Home Ownership Lowest Since 90's

   The Wall Street Journal is reporting that home ownership has hit it's lowest level since the mid 1990's. Even with two years of recovery in the housing market there are fewer home owners than before the Great Recession.
   About 74.4 million households own the home they live in. That's 64.8% of Americans. Compare that to the peak of home ownership, 2006 when 68.9% or 76.5 million Americans owned their own homes. As the housing bubble burst and prices fell, millions of Americans lost their homes to foreclosure. Couple that with the double digit unemployment rates and overextended mortgages and it's no wonder that home ownership is down.
   A possible silver lining to the story - data from the census seems to indicate that more and more young people are moving out of their parents homes and into rentals. Perhaps this is the first step toward a resurgence in eventual home ownership.