U.S. homeownership rate tumbles to 1980s levels

Posted on AllSides July 6th, 2022
From The Center

High prices for everything from groceries to gas aren’t the only things making this year feel like a throwback to the 1980s.

After almost a decade of gains, homeownership in the U.S. also has slipped back to levels seen about four decades ago (see chart below), when former Federal Reserve Chairman Paul Volcker was waging a battle against high inflation that pushed the American economy into a recession.

Fed Chairman Jerome Powell repeatedly said he seeks to avoid sparking a recession while fighting inflation near a 40-year high, but also recently said...

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