Racial and ethnic disparity in homeownership continues even among highly educated. Learn more in this America Counts story.
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America Counts: Stories Behind the Numbers
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Homeownership by Young Households Below Pre-Great Recession Levels
Before the 2007-2009 Great Recession, homeownership among households headed by adults ages 25-34 spiked as risky lending practices greatly expanded access to mortgage credit. Soon after, the nation experienced a housing market crash and economic downturn.
Since then, lending options tightened and home prices soared. This limited young householders? ability to own a home, driving down ownership rates which had yet to return to pre-recession levels by 2019.
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Homeownership among households headed by adults ages 25 to 34 was highest from 2003 to 2007. Rates for those years, just prior to the Great Recession, ranged from 46.4% to 47.0%, according to data from the 2000-2019 American Community Survey (ACS) 1-year estimates.
By 2010, right after the recession ended, homeownership among young heads of household had declined to 41.3% and continued to decline to 36.8% in 2015.
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* What changed?
* Homeownership before and after the Great Recession
* Education and homeownership
* Rise in diversity
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