Homeownership rate hits lowest level since 1995

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The U.S. homeownership rate hit its lowest level since 1995 in the first quarter of this year, according to data released by the U.S. Census Bureau yesterday.

“Tight credit, tight for-sale inventory, the challenge of saving for a down payment, and more rental single-family supply all helped lower the homeownership rate,” Jed Kolko, chief economist of Trulia, told MarketWatch. Source: U.S. Census Bureau via MarketWatch