After 4 decades of increase since 1940, the Nation's homeownership rate fell from 66 percent in 1980 to 64 percent in 1991. This decline actually took place between 1980 and 1985; since then, the rate has remained stable. But will it begin to rebound by the year 2000? This brief explains how it might change.
First it reviews how homeownership changed for different age groups during the 1980's. Then, it projects how owners' age and family composition could change. Two sources are used. One is the Census Bureau estimates for the 1990's (based on "Series B" projections originally published in 1986) of changes in the number of households of various types. Second is the actual 1989 homeownership rates for these groups (from the Current Population Survey/Housing Vacancy Survey). These projections thus assume there will be no changes during the 1990's in the homeownership rates for various ages and kinds of households.