Home ownership is at a 48-year low, driven in part by a shocking pattern of foreclosure that put 9.4 million out of their homes during the recent recession, according to a Harvard survey.

In its “State of the Nation’s Housing 2016,” Harvard said that “the U.S. homeownership rate has tumbled to its lowest level in nearly a half-century.”Figures from the St. Louis Fed showed a homeownership rate of 63.5 percent. The last time it was lower was in 1967.

Source: American nightmare: Home ownership at 48-year low | Washington Examiner



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