Experts: Surprise homeownership increase is a step in the right direction

The homeownership rate increased by nearly a full percentage point from last year, despite the struggle for more housing inventory, however experts pointed out the current rate is not much higher than last year’s more than 50-year low. While the housing market grew $7 trillion since the last cyclical low, as long as the homeownership rate remains low, that wealth is being distributed among fewer numbers of Americans.

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