(My Original Blog Post: http://www.lodging-manhattan.com/2009/10/12/rate-of-home-ownership-plunging-23-million-new-renters-are-coming-are-you-ready/)
A recent USA Today headline states "Rate of Owning Homes is Plunging - Analysis forecasts drop to 1985 levels". Homeownership in this country peaked at about 70% in 2005. Since that period the homeownership rate has declined to 67.4% this year and is projected to continue to drop dramatically to pre 1980 levels of about 63% by 2020.
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