Free Newsletter
Homeownership hits 18-year low
By: Graziella Steele//April 29, 2014//
Listen to this articleHomeownership across the country fell to its lowest rate in nearly 18 years, according to new data by Census Bureau. For the first quarter of the year, the rate of homeownership was 64.8 percent, not taking into account seasonal adjustment. At the end of last year, the rate was 65.2 percent.
The West was the region with the lowest rate of homeownership last quarter at 59.4 percent, reflecting the higher home prices of the major metros. In the South, the share of people owning their home was 66.5 percent in the first quarter, slipping from 67.1 percent during the three months before.
The Census Bureau reported that only 36.2 percent of Americans 35 years old or younger owned their own homes. That share has steadily been slipping over the last few years. For instance, in the first quarter of 2008, 41.3 percent of that age group owned their own place, raising questions about affordability.
Latest News
- Opportunity Zone housing markets continue to keep up with broader price gains across nation in third quarter
- Office Evolution’s flexible workspaces address demand from Charlotte professionals
- U.S. foreclosure activity remains steady in October 2023
- Construction sector adds 23,000 jobs in October as unemployment rate falls to 4.0 percent
- Alliance Residential opens Broadstone Optimist Park in Charlotte
- Construction employment rises in 43 states & D.C.
- LISC Launches Second Charlotte Affordable Housing Fund
- U.S. Home-seller profits continue rising as home values hit new highs in third quarter
- CBRE arranges sale of 107,545-SF Three Water Ridge in Charlotte
- Home equity trends mixed across U.S. In third quarter despite continued price increases
- Construction employment rises by 11,000 jobs in September
- Third & Urban Completes Construction on Pass 41, Announces New Tenants
Features
- Seyfarth bolsters Charlotte office with Katie Schwarting
- SCORE Charlotte intake team honored in matching potential new client needs with one of the chapters 72 volunteers
- Bidding Wars – 6 Tips to Help a Homebuyer Win the Bid
- ABC Carolinas Construction Conference Features New SC Chamber CEO, Bob Morgan as Keynote
- How to Buy Your First Home
- Buying and Selling in the time of COVID-19
- PERSONNEL FILE: Peters joins Showcase Realty
- PERSONNEL FILE: Mellor joins Henderson Properties of Charlotte
- REZONING ROUNDUP: Greenway Residential Development seeks rezoning of 12.3 acres
- PERSONNEL FILE: Berkshire Hathaway HomeServices recieves award
- PERSONNEL FILE: McCarty has joined LS3P
- PERSONNEL FILE: Graham joins Paragon Bank
Polls
Loading ...