Home Price Appreciation Widens Affordability Gap, Sustains Strong Apartment Housing Demand
Robust housing demand spurred by steady job gains and wage growth ticked up the home-ownership rate by 60 basis points to 64.3 percent at the end of 2017. The increase was driven by a 220-basis-point advance in the home-ownership rate for those under age 35 to 36.4 percent. Though it is encouraging that this age group is actively purchasing homes, young adult home ownership remains below its pre-recession rate of 40 percent, indicating there is still room for improvement.
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