U.S. home ownership has been languishing near its lowest level in about half a century after hitting a peak just before the financial crisis. And while there are few signs of an imminent rebound, it isn’t for lack of a desire to buy homes.
In the last quarter of 2004, before the housing bubble popped and the Great Recession reared its head, 69.2 percent of American homes were owner-occupied. But for roughly the last year, the homeownership rate has failed to crack 64 percent, and at one point rivaled a low last seen in the 1960s.
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