Homeownership rate tumbles to 65%

04/30/2013 | Wall Street Journal, The

The U.S. homeownership rate fell to the lowest level in nearly 18 years during the first quarter, Census Bureau data show. Also during the first quarter, the rental vacancy rate fell to 8.6% from 8.8% a year earlier. The figures reflect a preference for renting versus owning as the economy remains weak. Economists expect the trend to result in higher housing costs.

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