The homeownership rate fell for the second year in a row, dropping to 68.8 percent of households in 2006. This is down from the record high rate of 69.0 percent reached in 2004. But homeownership rates were higher in 2006 than in 2000 overall and in every age group except one. Among householders aged 45 to 54, the homeownership rate fell between 2000 and 2006.
What is behind the declining homeownership rate? The combination of high housing prices, rising interest rates, and the economic squeeze on the middle class.
Source: Census Bureau, Housing Vacancies and Homeownership, Annual Statistics 2006
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