Home Ownership Rate Drops to 1998 Level

WSJ - April 27, 2011, 5:01 PM ET

The housing market’s woes continue to force people into rentals, further depressing the home ownership rate in a nation that now has fewer homeowners than were created during the housing boom.

...some industry watchers expect the rate to slip below 65%. Housing experts say each 1% decline in the home ownership rate represents the movement of one million households to rentals...

“We revised our outlook lower for two key reasons,” Chang... Click Here for the rest of the story