Profile America: Homeownership

Monday, June 13 — The American dream of owning — and keeping — a home got a lifeline on this date in 1933 with passage of the Homeowners Loan Act. The act provided emergency relief in the depths of the Great Depression, helping homeowners ward off foreclosure. The act also created a system of federal savings associations to facilitate home construction, consumer savings, and affordable mortgage lending. At the time, less than half of the country’s homes were owner-occupied.

Today, owners live in nearly 56 percent of America’s 135 million housing units. Another 31.5 percent are rented. The rest are vacant or seasonal housing. Current homeownership stands at 63.8 percent, down from a peak in 2004 of 69.2 percent.

You can find more facts about America from the U.S. Census Bureau online.

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