Home Ownership Rate Lowest in Over 10 Years

Washington, DC, Nov. 4, 2010 -- U.S. homeownership rate is still at its lowest in more than a decade, according to the Census Bureau.

The percentage of households that owned their homes was unchanged at 66.9% in the July-September quarter, the Census Bureau said Tuesday. That's the same as the April-June quarter.

The last time the rate was lower was in 1999, when the rate was 66.7%.

A record number of foreclosures and tight lending standards are expected to keep pushing the homeownership rate down.