The supply of empty homes for rent is falling, and the nation’s homeownership rate is hovering near a fifteen year low.
How can that be when the housing market is finally turning around and more homes are selling?
The answer is simple: Investors.
The nation’s home ownership rate ticked up a statistically insignificant basis point, from 65.5 percent in the first quarter of this year to 65.6 percent in the second quarter, according to the U.S. Census Bureau. Q1 was the lowest home ownership rate since 1997 and is down from the peak of 69.4 percent in 2004.