For Multifamily Executive, Hamilton Zanze CEO Kurt Houtkooper details the reasons for optimism about the multifamily market and his company’s plans for 2024.Read
Homeownership Rate Drops to 51-Year Low
The U.S. homeownership rate fell to a five-decade low in the second quarter of 2016, according to the Census Bureau. At 62.9%, the homeownership rate is exactly where it was in the first quarter of 1965.
After reaching a high of 69.2% in the fourth quarter of 2004, the percentage of homeowners dropped dramatically as residents faced the worst recession since the Great Depression. Meanwhile, the rental vacancy rate – which includes all forms of rental housing — dropped to its lowest level since the fourth quarter of 1985.
Read more at Axiometrics.com