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Lowest Levels of Homeownership since the Late 1990ís
Mortgage News > Lowest Levels of Homeownership since the Late 1990ís
With out much demand for all the homes currently on the market the rate of homeownership has decreased significantly and now reaches percentage levels last seen in the late 1990’s. The rate of homeownership reached peak levels in 2004 topping off at 69% at the height of the nation’s housing boom.
Homeownership levels today were recorded at 66.9% in the quarter from July-September and remained unchanged from the previous quarter from April-June.
According to FoxNews.com a government survey has reported that roughly “18.8 million homes, or 14.4 percent of all houses and apartments, were vacant.” The survey also reports that “about 2.5 percent of all primary residences were vacant and for sale and 10.3 percent of all year-round rental units were listed as vacant and for rent.”