There are a lot of factors that impact the rate at which Americans own homes – especially household income. Often, the rise or fall of household income has much to do with how many Americans can afford to own homes. Throw in inflation and interest rates and it is easy to see what factors were involved with the decline of home ownership rates since 2004 and the housing market collapse in 2007.
Check out the infographic for an effective illustration of the crucial relationship between homeownership rates and household income.
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