Homeownership Rates Hit Record High

Homeownership rates have soared to 67.7%--the highest level in history--during the third quarter, Housing and Urban Development Secretary Andrew Cuomo said. Cuomo said 71.6 million Americans own homes, a record number of them minorities, women and city dwellers. The HUD figures show that 48.2% of minorities and 53% of women own homes. Among minorities, 47.3% of blacks and 46.7% of Latinos are homeowners. For the first time, more than half of all urban residents are homeowners, reaching 51.9%, up from 48% in 1994, HUD said.