U.S. Homeownership Rate Falls to Lowest in 20 Years

Julie C. Nichols General

The M Report – Tory Barringer

The number of Americans who own their home dropped to a new 20-year low last quarter as more households turned to renting.

According to figures released Thursday by the Census Bureau, the share of American homeowners hit 64.0 percent in Q4 2014, down from 64.4 percent in the previous quarter. Historical data shows the last time homeownership was so low was in Q4 1994, when the rate was 59.6 percent.

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