The rate of homeownership in the US fell in 2012 to its lowest level in 15 years. Despite historically high affordability and low mortgage rates, 65.4 percent of Americans owned their own homes in 2012, down from a peak of 69.2 percent in 2004. The decline was most dramatic among Americans 35 to 44, among whom ownership slumped 7.5 percent. Rental property, however, is prospering. In 2012 the national rental vacancy rate slipped below 9 percent for the first time since 2002 and the average rent reached a near-record high of $721.
Check out today’s video and share it with your friends. Then weigh in on today’s discussion thread. Can you live the American dream without living in a home you own?