Home Ownership Remains at Lowest Level This Century
The rate of home ownership in the U.S. remained at the lowest level it has been since the last quarter of 1999, according to the U.S. Census Bureau.
The bureau reported that 66.9% of residents of the U.S. owned their own homes in the third quarter of 2010. This was the same number as last quarter, but more than 2% below the 69.2% home ownership rate from the forth quarter of 2004, the highest point on record and the middle of the housing bubble.
"For the third quarter 2010, the home ownership rates were highest in the Midwest (71.1%) and lowest in the West (61.3%)," the bureau reported. "The home ownership rates in the South and West were lower than a year ago, while rates in the Northeast and Midwest were not statistically different from their corresponding third quarter 2009 rates."