Opinion: The “American Dream” of home ownership is slowly becoming an endangered species. If consumers do not wake up and start putting pressure on Washington, that dream could become harder to achieve.
CNNMoney (08/05/11) – Les Christie FULL ARTICLE
While the Census Bureau recently reported a decline in the U.S. homeownership rate to 65.9 percent during the second quarter, Morgan Stanley analysts say the government statistics may be conservative. Their research paper suggests that when taking into account delinquent borrowers likely to eventually lose their homes–something the Census does not consider–the homeownership rate actually is closer to 59.2 percent. That would be the lowest level since the government began tracking the data in 1965.