The share of Americans who own their homes slipped again in the second quarter to its lowest level in nearly two decades.
Just 64.8% of U.S. homes are owner-occupied, the Commerce Department said Tuesday, down from 65% in the first quarter and the lowest count since the third quarter of 1995. The figures are adjusted to account for seasonal variations.
In Los Angeles and Orange counties, 49.1% of homes are owner-occupied. That’s the lowest rate of any big metropolitan area in the country.
Relatively high housing prices, tight credit standards and a still-soft job market are prompting more Americans to put off owning a home, housing economists say.
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