See How Home Ownership Continues to DROP

The big white elephant in the US Economy continues to be real estate (NYSE:IYR). Ironically, the continued decrease in home ownership means we are healing and reverting to the historically supported mean.

Today the Department of Commerce’s Census Bureau announced home ownership

Homeownership Rate. The homeownership rate in the first quarter 2011 (66.4 percent) was lower than the first quarter 2010 rate (67.1 percent). In the South and West, the homeownership rates were lower than a year ago, while the Northeast and Midwest showed no significant change from the corresponding first quarter 2010 rates.

Rental Vacancy Rate. The rental vacancy rate in first quarter 2011 (9.7 percent) was lower than the first quarter 2010 rate (10.6 percent).

Homeowner Vacancy Rate. The homeowner vacancy rate in first quarter 2011 was not statistically different from the first quarter 2010 rate (2.6 percent each).


For the first quarter 2011, the homeowner vacancy rate is higher in the South than in the Northeast and West, but not statistically different from the rate in the Midwest.  The homeowner vacancy rate in the Northeast was higher than in the first quarter 2010, while the rates in the Midwest, South, and West were not significantly different from a year ago.

For the first quarter 2011, the homeownership rates were highest in the Midwest (70.4 percent) and lowest in the West (60.9 percent).  The homeownership rates in the South and West were lower than a year ago, while the rates in the Northeast and Midwest were not statistically different from their corresponding first quarter 2010 rates.

The homeowner vacancy rate in principal cities (3.3 percent) was higher than in the suburbs (2.4 percent) and outside MSA’s (2.3 percent).  The 2.4 percent and the 2.3 percent were not statistically different from each other.  The homeowner vacancy rates in principal cities, in the suburbs, and outside MSA’s were not statistically different from the corresponding first quarter 2010 rates.