Homeownership Level at 13-Year Low

During the second quarter of 2011, the homeownership rate fell to 65.9%. This means that the housing bust has essentially erased any increase in the national homeownership rate that took place during the boom. Unfortunately, the homeownership rate is expected to continue to decrease because of the weak economy, the double dip in housing prices, high rates of foreclosure and the difficult credit environment. The upside to this issue is a potential opportunity related to rental programming, as rental rates continue to increase.