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Homeownership falls to lowest level since 1995

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Wednesday, May 01, 2013

The U.S. homeownership rate has fallen to its lowest point since 1995, at just 65%. Oregon's homeownership rate is 62.3%.

The homeownership rate has fallen steadily after reaching a peak of 69.4 percent in 2004. Though some homeowners have become renters after losing their homes in foreclosure, the greater driver is that renting households have been slower to buy a home.

That increase in renting households, paired with limited new apartment and single-family home construction, has left renters with few options to choose from, and the Portland area is among the worst offenders.

Read more at OregonLive.com.

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