Wednesday, March 01, 2006

What's Up with Homeownership?

The Census Bureau just posted its 2005 annual average estimates of homeownership here. Interestingly, the nation's overall homeownership rate fell during the past year, dropping from 69.0 to 68.9 percent of households between 2004 and 2005. The homeownership rate was down slightly in almost every age group.

Since 2000, the overall homeownership rate has increased by 1.5 percentage points, with small declines in only two five-year age groups (among householders aged 50 to 54 and 65 to 69). Householders under age 25 saw their homeownership rate rise the most, up 4 percentage points between 2000 and 2005, to 26 percent. Householders aged 65 to 74 continue to have the highest homeownership rate, with 83 percent of householders in the age group owning their home.

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