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Home Ownership Rate Declines

News Flash: Home Ownership Takes a Big Dip

Government figures released this week show the largest one year decrease in home ownership since tracking began in 1965. A whopping 2.18 million homes were vacant and for sale during the fourth quarter of 2007! That's 2.8 percent of all homes not in the rental market. To add some perspective, that's almost twice the rate of vacant homes on the market just as the economy was heading into its last recession in 2001.

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