Owning Is the New Renting: Homeownership Trends Upward as U.S. Loses Renter Households
By Laura Kusisto | Apr 27, 2018
Rising wages, loosening credit standards and demographic shifts are all creating momentum for owning rather than renting. The homeownership rate rose from the prior year for the fifth consecutive quarter in 2018, according to U.S. Census data released Thursday. It held steady at 64.2%, unchanged from the prior quarter and its highest level since 2014. The share of Americans who own a home rose from the prior year, from 63.6% in the first quarter of 2017.