Homeownership Dips to Six-Year Low

Homeownership declined to 66.6 percent last year, the lowest level in six years, according to the U.S. Census Bureau, which released its American Community Survey on Monday.

Homeownership fell the most for Asians, dropping 1.24 percentage points to 59.4, largely because about one-third of Asians live in foreclosure-prone California.

Homeownership for African-Americans declined 0.88 percentage points to 45.6 percent. Hispanic ownership declined 0.80 percentage points to 49.1 percent, and whites’ ownership was down 0.40 to 73.4 percent.

Source: The Associated Press