Pursuits
U.S. Homeownership Rate Falls to a 20-Year Low
A group of real estate agents and mortgage brokers discuss the condition of a home for sale in Lancaster, Ohio, on, Jan. 9, 2015.
Photographer: Ty Wright/BloombergThis article is for subscribers only.
The U.S. homeownership rate fell to the lowest in more than two decades in the fourth quarter as many would-be buyers stayed on the sidelines, giving the rental market a boost.
The share of Americans who own their homes was 64 percent in the fourth quarter, down from 64.4 percent in the previous three months, the Census Bureau said in a report. The rate was at the lowest since the second quarter of 1994, data compiled by Bloomberg show.