US homeownership rate falls to a 17-year low of 65.3% in Q3 as ‘homeownership bubble’ continues to deflate

Carpe Diem | AEIdeas
Comment: The political obsession with homeownership starting in the mid-1990s raised the U.S. homeownership rate from below 64% in 1994 to an artificial level above 69% by 2004, but obviously failed to create a homeownership rate that was sustainable in the long run.
Government housing policies did increase the homeownership rate in the short-run, but in the process turned good renters into bad homeowners, created a housing bubble, waves of foreclosures, and a subsequent housing meltdown and financial crisis.