Fact Check 7: Home ownership dropped to a 50-year low under Obama, but grew 7.9% under Trump
This fact should be common knowledge, 24 days away from the election, but it isn't. Why?
Also see
2024 Fact Check: Introduction - by Jon Sutz
Sources
Federal Reserve Bank of St. Louis, citing US Census Bureau data: “Homeownership Rate in the United States”:
Trump’s Numbers, Preelection Update: What the statistics tell us about the president’s time in office, by Brooks Jackson, PoliitFact, October 14, 2020. Excerpt:
Homeownership — The percentage of Americans who own their homes has continued to recover under Trump.
The homeownership rate hit a record 69.2% of households for two quarters in 2004 before going into a yearslong slide and hitting bottom in the second quarter of 2016 at 62.9%. That was the lowest point in more than half a century, and tied for the lowest on record.
The rate recovered 0.8 points in the six months before Trump took office, and has gone up another 4.2 points since then, to 67.9% in the second quarter of 2020, the most recent Census Bureau figure available.
More
Business and Industry: Time Series / Trend Charts: Home Ownership, by U.S. Census Bureau.
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