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The Steady Decline of Homeownership for Everyone, Everywhere
In four charts.
America's homeownership rate has been declining for several years, and for multiple reasons, some tied directly to the housing collapse. For one class of would-be homeowners, it's simply harder today to qualify for a mortgage than it was at the height of the housing boom. For another, the allure of homeownership itself has declined. And then of course there are people who were homeowners until the crash nudged them off of their property.
The steady drop in American homeownership, however, predates the recession and the housing crash. As of the latest housing data released today by the Census Bureau, through the second quarter of 2013, this is what the trend looks like: