More Younger People Prefer To Rent Than Own

Washington, DC, Feb. 8, 2011 -- The percentage of Americans who own their home declined last year, as more people decide a home isn't necessarily a good investment and prefer to rent instead.

About 66.5% of U.S. households owned their home at the end of 2010, down from 67.2% in 2009, according to the U.S. Census Bureau.

The main driver of last year’s drop was the rise in renters, especially among younger people. Homeowner households fell 30,000 in the fourth quarter last year compared with a year earlier, but 1.1 million renter households were added in that time period.