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Homeownership Rates Drop to 1997 Levels
The Easy Way to Shop For a Mortgage Loan
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You're Now Reading:
Homeownership Rates Drop to 1997 Levels
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Homeownership Rates Drop to 1997 Levels
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Mortgage Rates

July 29, 2011 (Shirley Allen)

Homeownership rates in the United States dropped to 65.9 percent in the second quarter of 2011, falling to levels last seen in 1997 according to the U.S. Census Bureau.

The homeownership rate in the second quarter of 2011 was 1.0 percentage point lower than the second quarter of 2010 and 0.5 percentage points lower than the first quarter of 2011.

Regionally, homeownership in the second quarter of 2011 was highest in the Midwest at 70.0 percent followed by the South which posted a 68.2 percent homeownership rate. Homeownership rates in the Northeast were 63.0 percent and the West was the lowest at 60.3 percent.

Compared to the first quarter of 2011, the region with the largest drop in homeowners was the Northeast where homeownership rates dropped from 63.9 percent to 63.0 percent. The region with that posted the smallest decline in homeownership was the South, which dropped from 68.4 percent in the first quarter to 68.2 in the second quarter.

The Northeast also had the largest year-over-year drop as homeownership rates which fell 1.2 percentage points. The West dropped 1.1 percentage points in a year followed by the South with a 0.9 percentage drop and the Midwest with a 0.8 percentage drop.

Homeownership in all age groups also continued to decline with homeownership rates for those under 35 at 37.5 percent, from 35 to 44 at 63.8 percent, from 45 to 54 at 72.3 percent, from 55 to 64 at 77.8 percent and 65 years of age and over at 80.8 percent.

The age group that has suffered the largest loss in homeownership rates since the housing bust has been the 35 to 44 year old age group. Since the first quarter of 2007, homeownership rates have dropped from 70.1 percent to 63.8 percent.

In the racial categories, the Non-Hispanic White alone homeownership rate was 73.7 percent, the Black Alone homeownership rate was 44.2 percent, the Hispanic rate was 46.6 percent and all Other Races was 56.0. Homeownership rates were down for all racial categories from the first quarter of 2011 and year-over-year. Since the beginning of 2007, homeownership rates for Blacks and Hispanics has fallen almost twice as fast as Non-Hispanic White’s.

Tags: Census Bureau, homeownership rates

Source:
U.S. Census Bureau

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

July 29, 2011 (Shirley Allen)

Homeownership rates in the United States dropped to 65.9 percent in the second quarter of 2011, falling to levels last seen in 1997 according to the U.S. Census Bureau.

The homeownership rate in the second quarter of 2011 was 1.0 percentage point lower than the second quarter of 2010 and 0.5 percentage points lower than the first quarter of 2011.

Regionally, homeownership in the second quarter of 2011 was highest in the Midwest at 70.0 percent followed by the South which posted a 68.2 percent homeownership rate. Homeownership rates in the Northeast were 63.0 percent and the West was the lowest at 60.3 percent.

Compared to the first quarter of 2011, the region with the largest drop in homeowners was the Northeast where homeownership rates dropped from 63.9 percent to 63.0 percent. The region with that posted the smallest decline in homeownership was the South, which dropped from 68.4 percent in the first quarter to 68.2 in the second quarter.

The Northeast also had the largest year-over-year drop as homeownership rates which fell 1.2 percentage points. The West dropped 1.1 percentage points in a year followed by the South with a 0.9 percentage drop and the Midwest with a 0.8 percentage drop.

Homeownership in all age groups also continued to decline with homeownership rates for those under 35 at 37.5 percent, from 35 to 44 at 63.8 percent, from 45 to 54 at 72.3 percent, from 55 to 64 at 77.8 percent and 65 years of age and over at 80.8 percent.

The age group that has suffered the largest loss in homeownership rates since the housing bust has been the 35 to 44 year old age group. Since the first quarter of 2007, homeownership rates have dropped from 70.1 percent to 63.8 percent.

In the racial categories, the Non-Hispanic White alone homeownership rate was 73.7 percent, the Black Alone homeownership rate was 44.2 percent, the Hispanic rate was 46.6 percent and all Other Races was 56.0. Homeownership rates were down for all racial categories from the first quarter of 2011 and year-over-year. Since the beginning of 2007, homeownership rates for Blacks and Hispanics has fallen almost twice as fast as Non-Hispanic White’s.

Tags: Census Bureau, homeownership rates

Source:
U.S. Census Bureau

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

July 29, 2011 (Shirley Allen)

Homeownership rates in the United States dropped to 65.9 percent in the second quarter of 2011, falling to levels last seen in 1997 according to the U.S. Census Bureau.

The homeownership rate in the second quarter of 2011 was 1.0 percentage point lower than the second quarter of 2010 and 0.5 percentage points lower than the first quarter of 2011.

Regionally, homeownership in the second quarter of 2011 was highest in the Midwest at 70.0 percent followed by the South which posted a 68.2 percent homeownership rate. Homeownership rates in the Northeast were 63.0 percent and the West was the lowest at 60.3 percent.

Compared to the first quarter of 2011, the region with the largest drop in homeowners was the Northeast where homeownership rates dropped from 63.9 percent to 63.0 percent. The region with that posted the smallest decline in homeownership was the South, which dropped from 68.4 percent in the first quarter to 68.2 in the second quarter.

The Northeast also had the largest year-over-year drop as homeownership rates which fell 1.2 percentage points. The West dropped 1.1 percentage points in a year followed by the South with a 0.9 percentage drop and the Midwest with a 0.8 percentage drop.

Homeownership in all age groups also continued to decline with homeownership rates for those under 35 at 37.5 percent, from 35 to 44 at 63.8 percent, from 45 to 54 at 72.3 percent, from 55 to 64 at 77.8 percent and 65 years of age and over at 80.8 percent.

The age group that has suffered the largest loss in homeownership rates since the housing bust has been the 35 to 44 year old age group. Since the first quarter of 2007, homeownership rates have dropped from 70.1 percent to 63.8 percent.

In the racial categories, the Non-Hispanic White alone homeownership rate was 73.7 percent, the Black Alone homeownership rate was 44.2 percent, the Hispanic rate was 46.6 percent and all Other Races was 56.0. Homeownership rates were down for all racial categories from the first quarter of 2011 and year-over-year. Since the beginning of 2007, homeownership rates for Blacks and Hispanics has fallen almost twice as fast as Non-Hispanic White’s.

Tags: Census Bureau, homeownership rates

Source:
U.S. Census Bureau

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.