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U.S. Homeownership Rate Falls Behind Other Nations


Homeownership in the U.S. is lagging behind other developed countries, according to a recent Reverse Mortgage Daily report.

"Compared to 17 other first-world countries around the globe, the U.S. homeownership rate has fallen over time, an indicator that the American Dream is becoming less attainable, according to research published by the Urban Institute," according to RMD.

"Researchers Laurie Goodman, vice president for housing finance policy at the Urban Institute, and Chris Mayer, professor of real estate at Columbia Business School and CEO of reverse mortgage company Longbridge Financial, prepared the findings."

In 1990, the U.S. was ranked 10th in homeownership among 18 countries and dropped to 13th in 2015, according to the report. There are a few factors that have attributed to the dip in U.S. homeownership, many of which industry experts have already been aware of.

“'While cross-country comparisons are difficult, the slip in US homeownership relative to the rest of the world, and the historically low homeownership rates for Americans ages 44 and younger, should motivate us to look at US housing policies,' the researchers wrote in a blog post on the research published by the Urban Institute," according to the report.

To learn more about U.S. homeownership rates in-comparison to other developed countries, click on the image above.

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