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Rents Across The US Hit A New All Time High

• zerohedge.com by Tyler Durden

....from 63.6% in the previous quarter, just 1% from the all time lows in the series history going back to the mid 1960s.

A breakdown of the data by age group reveals that the primary driver for this decline has been the youngest age cohort. While older Americans, especially those 65 and older, have predictably seen only modest declines in their homeownership in recent decades, it was the youngest age group, those 35 and younger, the Millennials, who over the past decade have seen their homeownership decline steadily from the low 40%'s to the mid-30%, although in Q2 there was a glimmer of good news, as the homeownership rate for Americans 35 and younger posted its first increase in 3 quarters, rising from 34.3% to 35.3%.

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