Family Homeowner Rate Lower Than in '70s?

The national homeownership rate for families with children, especially for low- to moderate-income working families with children, is lower than the rates in the 1970s even though the overall homeownership rate in the United States stands at a record high, according to a National Housing Conference study.In 1978 the homeownership rate for all families with children stood at 70.5%, but by 2001 it had decreased to 68.4% -- while the homeownership rate for working families with children declined from 62.5% to 56.6%. Between 1978 and 2001 the number of children from low- and moderate-income families living in owner-occupied housing had declined from nearly 66% to about 58%. By 2003, the national homeownership rate had increased to 68.3% from 65.2% in 1978. Contradicting what has been hailed as a "decade of progress" for the average household, NHC said, the study found that over the last 25 years more working families with children are struggling to make ends meet. (Working families are defined as households earning less than 120% of the local median income, but more than the full-time equivalent of the minimum wage.) The study was conducted by the NHC's research affiliate, Center for Housing Policy.