Home Ownership Rate in the United States decreased to 64.20 percent in the first quarter of 2019 from 64.80 percent in the fourth quarter of 2018. Home Ownership Rate in the United States averaged 65.23 percent from 1965 until 2019, reaching an all time high of 69.20 percent in the second quarter of 2004 and a record low of 62.90 percent in the second quarter of 1965.
Age is big predictor of net housing wealth. The report found that those over 60 hold 52% of all home equity. Those under 50 hold only 23%. Meanwhile, owners under 40 owned 17% of all owner-occupied housing units but had only 6% of accessible housing wealth.
Remember, a good credit score can help you secure an affordable mortgage, so it’s a smart idea to see where you stand before you start filling out applications. If your credit is looking a little lackluster, you may be able to improve your score ahead of time by disputing errors on your credit reports, paying down high credit card balances and limiting new credit inquiries until your standing rebounds.
