Fewer Americans are becoming homeowners as the U.S. homeownership rate continues to slip ever so slightly each year, government data shows.
Overall, the U.S. homeownership rate slipped to 65.4% in the fourth quarter of 2012, down 0.6 percentage points from 66% in the fourth quarter of 2011 and a slight drop from a homeownership rate of 65.5% the previous quarter.
"The fact that the housing recovery is being driven principally by investor demand means that the slight decline in the homeownership rate in the fourth quarter is unlikely to be the last," said Capital Economics.
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