Demo Memo's Cheryl Russell reports that the country's homeownership rate dropped to 63.7% last year, according to data from the U.S. Census Bureau. That number marks a 5.3% fall from the peak of 69% in 2004.
Between 2004 and 2015, the rate of homeownership declined by over 10% among householders aged 30 to 44.
The long-term decline in homeownership, now in its second decade, shows no sign of stopping. Between 2014 and 2015, every age group with the sole exception of householders under age 25 (whose homeownership rate climbed by a minuscule 0.1%) experienced a decline in homeownership. The overall homeownership rate fell by 0.8% between 2014 and 2015, greater than the 0.6% decline in the previous year.