The dream of owning a home has become increasingly unattainable for many Americans, and the situation is not likely to improve soon, as the collapse of the housing market and the recession continue to take their toll. That is the disturbing conclusion to be drawn from the US Census Bureau’s newly released report Housing Characteristics: 2010, an overview of the national home market at the end of the last decade. One of the highlights of the report is a list of the states that have the highest and lowest percentage of homes occupied by their owners. 24/7 Wall St.’s review of the data found that homeownership rates were high in thinly populated states and those with low home prices, while homeownership was low in states with expensive homes and large cities.
The homeownership rate is the second highest on record, behind only 2000, since homeownership data collection began in 1890. However, the rate decreased by 1.1 percentage points to 65.1 percent between 2000 and 2010. The decrease is the largest since the period from 1930 to 1940.