“There was fresh data from the government Tuesday showing that the American dream of owning a home is fading fast.
The share of all U.S. privately-owned houses that stood empty fell in the fourth quarter to its lowest since 2006 as the number of houses occupied by renters rose faster than the pace of new vacancies created by homeowners moved out, according to the Commerce Department.”
“With the fast pace of foreclosures showing no sign of letting up, the U.S. homeownership rate continues to fall. Just 66.0 percent of U.S. homes were occupied by their owners in the fourth quarter of last year half-a-percentage-point lower than a year earlier. Thats the lowest level of homeownership since the second quarter 1998,” by John Schoen on The Bottom Line on MSNBC.