The Homeownership Rate Continues to Decline

foreclosure-home-sale-sign

Foreclosures may send homeownership to it’s lowest level in 50 years.

Millions of houses on the verge of foreclosure threaten to send homeownership to its lowest level in 50 years, according to new industry estimates.Fresh projections say the rate could plummet to about 62% as early as 2012 and almost certainly by the end of the decade. Homeownership rates haven’t been that low since they hit 61.9% in 1960.

 

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