The Census Bureau's reported homeownership rate stands at 65.7%, indicating stability but also a potential shift towards a renting culture. Analysis reveals that a third of Americans may remain lifelong renters unless they marry and form dual-income households. Millennials, currently the largest group of homebuyers, face barriers due to rising home prices and mortgage rates, hindering entry into the market. The author's past predictions about homeownership rates highlight the influence of demographic shifts, suggesting ongoing fluctuations in homeownership dynamics.
"One-third of the nation will remain lifelong renters unless they get married and have a dual-income household."
"If home prices hadn't skyrocketed alongside mortgage rates, we would have more younger homebuyers entering the market."
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