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Tuesday, March 24, 2015

California’s homeownership rate dropped

California’s homeownership rate dropped quickly in the fourth quarter (Q4) of 2014, falling over a percentage point to 53.2%. This is down from 54.6% one year earlier.

The homeownership rate has plummeted from its 60.7% peak in 2006 to its present level. California homeownership is certain to languish below California’s historical rate of 55% for years to come, due primarily to rising mortgage rates.

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