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Homeownership Falls To Lowest Rate Since 2000

One of our favorite blogs, Calculated Risk, has a great post today about the latest Census Bureau report on homeownership and vacancy rates. Here's a taste:

The homeownership rate declined to 67.2% and is now at the levels of early 2000.

The homeownership rate increased in the '90s and early '00s because of changes in demographics and "innovations" in mortgage lending. The increase due to demographics (older population) will probably stick, so I've been expecting the rate to decline to the 66% to 67% range - and not all the way back to 64% to 65%.

In the rental market, the vacancy rate for the fourth quarter was 10.6 percent, down from last quarter's record high of 11.1 percent.