Pursuits
Homeownership Rate U.S. Falls to 63.7%, Lowest Since 1993
Home Prices Rise Faster Than Expected in February
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The U.S. homeownership rate fell to the lowest level in more than two decades, extending a multiyear decline as rising prices and stagnant wages keep young families out of the property-buying market.
The share of Americans who own their homes was 63.7 percent in the first quarter, down from 64 percent in the prior three months, the Census Bureau said in a report Tuesday. The rate was the lowest since 1993, data compiled by Bloomberg show.