Homeownership Rates Slip

Government data reported that the share of privately owned U.S. homes fell to a 15‐year low in the first quarter. The home ownership rate slipped to 65.4 percent, the lowest since the first quarter of 1997, according to the Commerce Department. The rate was at 66.0 percent in the fourth quarter. Homeownership was lowest in the West, while higher rates were reported in the Midwest, most likely a result of lower housing prices.