The Surprising Reason Why the Homeownership Rate Surged in the Middle of a Pandemic
In the middle of a recession and the worst public health crisis in a century, the U.S. homeownership rate surged to its highest point since the Great Recession. The homeownership rate reached 67.9% in the second quarter of 2020, according to a recent report from the U.S. Census Bureau. That's up from 65.3% of Americans owning their residences in the first quarter of the year and 64.1% in the second quarter of last year. While on the surface the housing market appears to have