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63.4% Homeownership Rate In 2016 Was Lowest Since 1966

Tuesday, February 21, 2017 4:56
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from CoreLogic

– this post authored by Frank Nothaft

The erosion of homeownership has been one legacy of the housing boom-and-bust of the last decade. The homeownership rate peaked at 69 percent in 2004, inflated by relatively easy mortgage credit primarily provided by subprime and low/no-doc loan products. The drop in homeownership continued through 2016, with the homeowner rate just a tad above 63 percent, the lowest annual average in 50 years (Figure 1). But we may be at or near the bottom of the homeowner decline.

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