The Real Deal Miami

US homeowner rates falling

June 23, 2008 09:55AM

After President Bush began a campaign to expand homeownership in 2002, the number
of renting Americans fell as more and more people owned their homes. But census
data through March shows that those gains are falling, as only 67.8 percent of household
heads own their homes, a drop from 2005 levels of 69.1 percent. Housing
analysts say the drop signals a national trend, as the unstable housing market
and a surge in foreclosures has eliminated six years of gains.