U.S. Homeownership Rate Falls Again in First Quarter

The U.S. Census Bureau reports that homeownership fell from 66.4 percent in the first quarter of 2011 to 65.4 percent in the most recent three months. The current rate is the lowest since 1997.

The homeownership rate is the proportion of households that are owner-occupied.

High unemployment, tight credit, and fears that prices will fall further are all discouraging potential homeowners from buying a house of their own.

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