Young People in U.S. Buying Fewer Homes

A declining marriage rate and uncertainty about incomes have fed a decline in young people’s home ownership in the U.S., according to Jonas D. M. Fisher of the Federal Reserve Bank of Chicago and Martin Gervais of the University of Southampton in the UK and the University of Iowa. While the nation’s overall home-ownership rate grew from about 62% in 1960 to an estimated 67% in 2007, for people 25-44 the proportion sank from about 58% to an estimated 57%. Married people are more likely than singles to own homes, and the marriage rate in that age group fell 15 percentage points between 1980 and 2000.

Source: http://onlinelibrary.wiley.com/doi/10.1111/j.1468-2354.2011.00653.x/abstract