The Wall Street Journal highlighted research by USC Price Ph.D. candidate Arthur Acolin in the post “Lopsided Housing Rebound Leaves Millions of People Out in the Cold.” Acolin and colleagues predict the rate could dip to 58 percent or lower by 2050. This may in turn affect future spending when younger households lack home equity to pay for other milestone purchases.
While economists expected the homeownership rate to begin edging up this year, the rate fell to a 51-year low of 62.9% in the second quarter from 63.4% in the same quarter last year.
The rate could fall to 58% or lower by 2050, according to a recent prediction by housing experts Arthur Acolin of the University of Southern California, Laurie Goodman of the Urban Institute and Susan Wachter of the Wharton School at the University of Pennsylvania.
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