The American homeownership rate fell for the 10th consecutive year to 64.5%, according to a new study released Wednesday. Early 2015’s rate continued with the slump to 63.7%, the lowest quarterly rate on record since early 1993.
The State of the Nation’s Housing report, conducted by the Harvard Joint Center for Housing Studies, found that home construction is near historic lows and rental housing demand is forecast to break records.
Read more...Homeownership Rates Drop to Historic Lows; Middle Class Feels the Strain of Rising Rents (Press release from the Joint Center for Housing Studies, Harvard University) | Multifamily Executive Magazine
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