Homeownership on the Rise in U.S.
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Homeownership is on the rise throughout the U.S., according to a new study by the U.S. Census Bureau.
The national homeownership rate hit 67.1%, with the highest rate in the Midwest and the lowest in the West, in first-quarter 2000. In first-quarter 1999, the rate was 66.7%.
The Midwest rose to 72.2% from 71.2%, while the South ticked upward to 69.5% from 69.2%. In the Northeast, the rate jumped to 63.3% from 62.7%, while the West had the lowest rate, at 61.3%, compared to 61% in first-quarter 1999.
Wide disparities were found in ethnic homeownership, with 45.7% of Latinos owning their homes, as opposed to 73.4% of white non-Latino homeowners.
The Census Bureau also found a 40.5% homeownership rate for those under age 35, while those age 55 to 64 had an 80.8% rate.
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