Though the homeownership rate has dropped to its lowest level since 1989, economists see a silver lining, The Wall Street Journal reports.
Reports from the Commerce Department show that homeownership today is at 63.8 percent. But economists see that the fact that 20-somethings are coming out of their parents’ basements and beginning to rent on their own is a good sign.
“Many of those new renter households will become homeowners, but probably not soon,” Jed Kolko, chief economist at Trulia, told The Wall Street Journal.
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