U.S. Homeownership Hits Decade Low
April 26, 2012
Still, 70% think now is a good time to buy a house
by Dennis Jacobe, Chief Economist
PRINCETON, NJ – The 62% of Americans who say they own their own home marks a new low since Gallup began tracking self-reported homeownership in 2001
The current level of homeownership marks a decline from 68% in 2011. For most of the prior decade, roughly seven in 10 Americans reported owning their own home. While the recession and financial crisis took place in 2008-2009, homeownership rates didn’t begin to reflect the bursting of the housing bubble until 2010, when 65% of Americans reported owning their own home — the lowest level recorded before this year.