Homeownership hits 15-year low

Homeownership hits 15-year low

U.S. homeownership fell to its lowest level since 1997 in the year's first quarter.

According to the U.S. Census Bureau, homeownership is now 65.4 percent, a decline of 1 percentage point from a year ago and 3.7 percentage points lower than its 2005 peak. 
About 800,000 borrowers lost their homes in foreclosure in 2011. Meanwhile, fewer people are buying their first home. Even though homes are more affordable because of low prices and low interest rates, it's harder to access credit and the inventory of homes for sale is slim.

Read more at OregonLive.com.

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