Why Homeownership Matters

Lawrence Yun

The homeownership rate has fallen to a 50-year low. As of the second quarter of this year, 63.1% of households were homeowners. If the trend of the rising number of young adults still living with parents is accounted for, and we count them as renters rather than being in a home owning household, then the ownership rate in the U.S. would be even lower.  Is that a concern for the country, or should we just let it be as a reflection of consumer choice?