Home ownership rate climbs, fortifying real estate rebound

As the real estate industry looks to rebound, home ownership may be creeping back up as well. Many owners lost their properties during the recession as jobs became harder and harder to come by, but as we slowly get our feet under us, the numbers are inching back up. 65.3% of Americans are said to own their own home in the third quarter, up from 65% in the three months prior. Former owners that were hit harder by the recession are trying to rebuild their credit, renting until they have done enough repair to have a chance to own again. Richard Smith, CEO of Realogy Holdings Corp that owns both Coldwell Banker and Century 21, reminds us that Americans are raised to strive for home ownership, not renting.

Prices are on the rise, September showing 12% higher than the previous year. It would appear that minorities and younger people have partaken in home ownership at the lowest rates of all Americans since the crash.

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POSTED November 14 2013 12:31 PM

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