Are We Going European?

A recent report from the National Apartment Association (NAA) estimates that homeownership in the United States could decline up to 8% or more by 2030, aligning homeownership rates with those of several European countries. This would mean apartment renters would make up around 40% -- rather than just above 30% -- of the population.

The NAA report attributes the decline in homeownership and rise in apartment living to several factors, including a growing immigrant population, the lack of affordability for many households, the emergence of Generation-Y households, and a growing nationwide trend toward urban living.

Highlights of the report and an executive summary are both available on the NAA's Web site.

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