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August 1st, 2013 
FAKE NEWS for the Zionist agenda The US homeownership for the second quarter of 2013 is 65 percent, according to the latest data from the Census Bureau.
The number of American homeowners has never been this low since the fourth quarter of 1995.
After hitting a record high 69.2 percent in 2004, US homeownership rate continued to decline, reaching an 18-year low 65 percent in the first quarter of 2013.
According to a study by London-based Capital Economics Inc., the number of homeowners in the United States will continue to drop and it will hit 64 percent next year as more families will leave the foreclosure pipeline, foreclosed homes reaching the market during a particular period, and enter rental homes.
The Home Affordable Modification Program (HAPM), a 2009 government-sponsored initiative, was aimed at lowering homeowners’ monthly mortgage payments so that the payments will be more affordable.
However, ProPublica reported in June that former employees of Bank of America, the second-biggest US lender, consistently lied to customers about their mortgages and denied qualified borrowers a chance to modify their loans.
According to the Census Bureau data, first-time buyers and minorities are among the groups that have seen the sharpest declines in homeownership rates since the US housing crash.
In 2004, the homeownership rate for African-Americans reached almost 50 percent in the second quarter of that year while it reached 76.2 percent for whites.
According to the latest data, the rate for African-Americans fell to 42.9 percent by the second quarter of this year while it dropped to 73.3 for whites.
ISH/ARA
Source Article from http://www.presstv.ir/detail/2013/08/01/316682/us-homeownership-falls-to-18year-low/
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