While the homeownership rate is inching its way back upward, it is still below its peak across all age groups—particularly among consumers ages 44 and younger, according to the Wells Fargo 2016 Housing Market Outlook. For consumers between the ages of 35 and 44, the homeowership rate of 59 percent at the end of 2015 was about 11 percentage points off of its peak of 70 percent from 10 years earlier.
For consumers under the age of 35, the homeownership rate of 34 percent at the end of 2015 was about 9 percentage points lower than its peak from 10 years earlier. The age group with a homeownership rate at the end of 2015 that was closest to its peak was the 65 and older group, which had a rate of 80 percent at the end of 2015 compared to slightly below 78 percent at the end of 2005.
HUD Secretary Julián Castro announced on Monday at the National Low-Income Housing Coalition meeting in Washington that the Department would soon make available 174 million dollars through the first allocations to the National Housing Trust Fund, which were announced by Fannie Mae and Freddie Mac three weeks ago. The Housing Trust Fund is an affordable housing program to complement existing federal, state, and local initiatives to provide housing for low-income families.