>This story came across the AP wire today:
>
>(Washington) Lowering mortgage rates has
>done wonders for the real estate industry.
>The government says the percentage of
>American families who own their own homes hit
>a record high this summer. The federal
>housing department says the home ownership
>rate was at nearly 67 percent from the July
>to September quarter.
>
>Seriously? Can anyone tell me about this?
Yes, this is true - the figure, at 66.8%, is the highest since the series began in 1956. For more, see <http://www.census.gov/hhes/www/housing/hvs/q398prss.html>. Homeownership rates fell in the 1980s. I think very indulgent mortgages may have something to do with this - 5% down, and even less - but I don't know for sure. Does anyone?
Doug