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US home ownership at record highs despite flagging housing sector
Oct 6, 2011, 20:11 GMT
Washington - The rate of US home ownership last year stood at the second highest rate since record keeping on the subject began more than a century ago.
The US Census Bureau on Thursday released a report that showed home ownership in 2010 was the second highest on record - the highpoint was reached in 2000 - since 1890.
The news comes at a time when the US housing market - a major benchmark of the health of the overall economy - is generally viewed as sluggish.
The national housing inventory rose by nearly 16 million units, or nearly 14 percent, from 2000 to 2010. The housing inventory increased in all states during that decade but grew fastest in the South and West.
The South grew nearly 18 percent to 50 million units and the West grew more than 17 percent to nearly 29 million units. In contrast, the Midwest grew by more than 9 percent to more than 29 million units and the Northeast grew by more than 6 percent to more than 23 million units.
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