NEWS in the
THE CIRCLES OF LIFE
UM3ER5
17.9%
16.1%
Age 15-24
–˙
Economic and
market data
45.6%
Homeownership Rates
by Age Group
● 2000
● 2010
42.0%
66.2%
Age 25-34
7%
62.3%
74.5%
Age 75+
Age 35-44
1.3%
80.2%
Age 65-74
Younger
generations delay home
purchases, erode the market
THE RATE OF HOMEOWNERSHIP dropped 1. 1 percent to
65.1 percent between 2000 and 2010, which might not sound like much,
but it is in fact the largest decline in 70 years, the U.S. Census Bureau
reported in its “Housing Characteristics: 2010” report released Oct. 6.
The drop in the nation’s homeownership rate would have been even
greater had it not been for the aging population. Why? Because the younger
generation has held off on buying homes during the last decade — even
during the boom years. The report cited lifestyle changes (staying in
school longer and delaying marriage and children) as the most
significant reason homeownership continues to erode among
young people.
So, who are the nation’s homeowners?
Age 45-54
74.9%
Age 55-64
79.8%
71.5%
77.3%
