Homeownership Rate Lowest Since 1997

Washington, DC, May 1, 2012 -- Homeownership is at a 15-year low, according to the Census Bureau.

Figures released Monday show the rate of U.S. homeownership fell in the first three months of this year to 65.4%.

That's down from 66.4% in the first quarter last year.

The last time the rate hit 65.4% was in the first quarter of 1997.

The rate peaked at 69.2% in the fourth quarter of 2004.