P.M. BRIEFING : U.S. Home Ownership Declines
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WASHINGTON — Home ownership in the United States declined during the last decade for the first decade-long drop since the 1930s, the Commerce Department reported today.
The homeownership rate was 63.9% last year, down from 65.6% in 1980, the department’s Census Bureau said.
Younger households continued to struggle with rising prices and other economic constraints during the decade. Ownership rates for householders under the age of 35 decreased to 39% last year from 41% in 1982.
Younger married households also had trouble moving into their own homes. Ownership rates for this group slipped to 57% last year from 58% in 1982.
Home ownership varied by region, with ownership up in the Northeast but down in the Midwest, South and West. The California ownership rate remained stable.
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