The American Homeownership Dream is officially dead. Long live the New Normal American dream: Renting.
According to the latest quarterly homeownership data released by the Census Bureau,
the raw homeownership rate of 65.0% was unchanged from last quarter and
0.4% lower than a year ago. And on a seasonally adjusted basis (not
sure why homeownership is adjusted for seasons: people who live in a
house in the winter generally live under a bridge in the summer?), the
percentage of Americans who have a house declined from 65.2% to 65.1%:
the lowest since 1995.
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