Homeownership in the United States has dropped to its lowest rate in 51 years, according to figures released by the U.S. Census bureau. The share of Americans owning homes has dropped to 62.9 percent in the second quarter. That is the lowest since 1965.
Finding affordable housing, not having enough money for a down payment and a tight supply are being blamed for the drop in ownership rates.
Bloomberg News, whose owner is Michael Bloomberg, looked to put a positive spin on the story. Bloomberg, of course, endorsed Hillary Clinton at Wednesday’s DNC, which has been the “good news and nothing else convention” this week. The website found an economist to state the drop in ownership rate was not necessarily “a bad sign.”