Home ownership is at a 48-year low, driven in part by a shocking pattern of foreclosure that put 9.4 million out of their homes during the recent recession, according to a Harvard survey. In its “State of the Nation’s Housing 2016,” Harvard said that

“the U.S. homeownership rate has tumbled to its lowest level in nearly a half-century.” Figures from the St. Louis Fed showed a homeownership rate of 63.5 percent. The last time it was lower was in 1967. The Harvard Joint Center on Housing Studies report put a focus on foreclosures. READ MORE