Why Homeownership Matters
A column by NAR Chief Economist Lawrence Yun in Forbes
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?
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