Slow Economic Growth Due To Homeownership Rate Drop, New Study Says

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A return to more typical homeownership rates could have added more than $300 billion to the economy last year

April 12, 2017

Photo: PublicDomainPictures.net

Slow U.S. economic growth since the Great Recession that began in 2008 is due almost entirely to a drop in the homeownership rate, according to a study by Rosen Consulting Group. A return to more typical homeownership rates seen in the previous 50 years could have added more than $300 billion to the economy last year, the study said. Despite 7.5 million new total households in the past decade, there were nearly 1 million more homeowners in 2006 than there were in 2016.

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