City homeownership reaches all-time high

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New York City’s home-ownership rate reached an all-time high in 2005, according to the city’s annual Housing and Vacancy Survey, released Friday. The 33.3 percent rate of ownership last year was the highest since the city started the survey in 1965. The total inventory of residential units in the city also hit an all-time high of 3.3 million, with New York’s housing stock increasing by 52,000 units between 2002 and 2005. By Tom Acitelli