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U.S. Homeownership Is at Its Lowest Rate Since 1993

The latest State of the Nation’s Housing report reveals some troubling trends for buyers.
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Nick Ut/AP

People of the Generation X persuasion tend to remember 1993 fondly. It was the year that Dazed and Confused and Jurassic Park hit theaters. The year Liz Phair put out Exile in Guyville and Counting Crows gave us August and Everything After. Man, ‘93 was righteous. It was also the year that Gen-Xers started buying homes—and a basement for the housing market that wouldn’t be seen again, until now.

A new report from the Joint Center for Housing Studies of Harvard University spells out bad news for Gen-X homebuyers, and worse news for the Millennials waiting in the wings. According to the 2015 State of the Nation’s Housing report, homeownership rates are down to the their lowest levels since 1993. And they don’t show any signs of improving.