Homeownership rate drops to 63.4%, lowest since 1967

cnbc.com ^ | July 28, 2015 | Diana Olick

[John W]

The U.S. homeownership rate fell to 63.4 percent in the second quarter of 2015, according to the U.S. Census. That is down from 63.7 percent in the first quarter and from 64.7 percent in the same quarter of 2014. It marks the lowest homeownership rate since 1967.

"It is now just five-tenths from the record low seen in 1965 in data going back also to 1965," noted Peter Boockvar, an analyst with The Lindsey Group. "All the governmental attempts (certainly aided and abetted by many players in the private sector) at boosting homeownership has gotten us to this point in time with all the havoc it wreaked over the past 10 years. It's just another governmental lesson never learned, of don't mess with the free market and human nature."

[Buckeye McFrog]

I think the Dems are going to keep this one close to their vests and then hit us with it like a blitzkrieg next September. It will make them unbeatable IMHO. The Julias will be crawling over broken glass to go and vote.

Like you I paid off my student loans years ago, so I’ll be gettin’ SCROOOOD. They will tell us that we will benefit from the macroeconomic effects which will, among other things, allow young people to go back into debt to begin overpaying for houses again.

This will boost employment, revenue to Social Security, yadda yadda yadda.

[DCBryan1]

Then there are those Chinese modular houses that come together in three hours.

And flatten down to 2" high in a 3.0 earthquake.

[stars & stripes forever]

[Then there are those Chinese modular houses that come together in three hours.]

I think the company should add a disclaimer "Live in this home at your own risk."

Excerpt from the article: "Details are hazy. According to 3D-printing news site, 3Ders, the company is using special material they're keeping a secret for now. The material sourced from industrial and agricultural wastes apparently not only allows rapid assembly but can also withstand a 9.0 earthquake

[catfish1957]

Record low home ownership?...Check Hoover..... uh I mean Obamatown.

[skeeter]

Once the home ownership rates hits a certain low point expect the government to declare war on those lucky enough to own their own.

[gdani]

I think the Dems are going to keep this one close to their vests and then hit us with it like a blitzkrieg next September.

I'm not sure when exactly it will come but I agree they will hold on to it for awhile then roll it out strategically. And many young voters will eat it up.

[DuncanWaring]

There are also a lot of “get rich quick flipping houses” and “rent-out your vacation home for a few weeks and live free in it” shows.

[elpadre]

There is nothing wrong with a lower percentage of home owners. Many people don’t want the responsibility of home ownership. Retirement homes and assisted living facilities are becoming very popular and with a large population is always in a transient mode and it doesn’t make sense to own.

These writers need to cover all the bases.

[Theoria]

I don't think these figures are even accurate. I think these are inflated numbers including mortgage payers; not actual 'owners'.

*Yes, we all have to still give to the king in taxes...no ownership.