Home Ownership Hits Lowest Level Since 1965

According to a recent  Census Bureau report, the percentage of people who own homes has dropped to 65.9% during the second quarter. However, when you add those home owners who are delinquent on their mortgages and will likely lose their homes through foreclosure, the actual percentage of home ownership is 59.2% according to a Morgan Stanley analyst. “The combination of falling home  prices, limited mortgage credit, continued liquidations and better rental options is changing the way Americans live” according to the analyst. “We are slowly becoming a nation of renters” he goes on to say. Read this CNN Money article.

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