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US Rents Hit Record Highs as Homeownership Plunges to 18 Year Lows

US Rents Hit Record Highs as Homeownership Plunges to 18 Year LowsThe American Home-ownership Dream is officially dead.  Long live the New Normal American Dream: Renting.

According to the latest quarterly home-ownership data released by the Census Bureau, the raw home-ownership rate of 65.0% was unchanged from last quarter and 0.4% lower than a year ago.  And on a seasonally adjusted basis (not sure why home-ownership is adjusted for seasons: people who live in a house in the winter generally live under a bridge in the summer?), the percentage of Americans who have a house declined from 65.2% to 65.1%: the lowest since 1995.

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