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IPFS News Link • Housing

The Ownership Society Fails: Homeownership at 10 Year Low

The homeownership rate increased in the '90s and early '00s because of changes in demographics and "innovations" in mortgage lending. The homeowner vacancy rate was 2.6% in Q1 2010. A normal rate for recent years appears to be about 1.7%. This leaves the homeowner vacancy rate about 0.9% above normal. This data is not perfect, but based on the approximately 75 million homeowner occupied homes, we can estimate that there are close to 675 thousand excess vacant homes.