DETROIT-A weak demand for housing and rise in foreclosures haveprevented the nation's homeownership rate from moving forward. TheCensus Bureau said that the homeownership rate remained unchangedat 66.6% in Q3 2010 compared to that of Q2.
Nearly 64% of homes in the US were owned by residents for morethan a decade. Patrick Newport of IHS Global Insight said that thetight lending standards and foreclosures may force thehomeownership rate to go down. For the full story, go toThe Detroit Free Press.
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