Homeownership Rate Continues Steep Fall


REUTERS: U.S. homeownership slipped to a 25-year low in the first quarter, government data showed on Tuesday, underscoring the housing market's struggle to heal from the recession's deep scars. The seasonally adjusted home ownership rate slipped to 63.8 percent, the lowest since the fourth quarter of 1989, the Commerce Department said. The rate, which peaked at 69.4 percent in 2004, was 64.0 percent in the fourth quarter...