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May 1, 2012
After cresting near 70 percent at the height of the housing boom, the homeownership rate sunk to a 15-year low during the first quarter of 2012 according to new figures released this week, another reminder that despite a recent spate of encouraging housing data, the country's real estate crisis is far from over.
The U.S. homeownership rate slipped to around 65.4 percent, according to the Census Bureau, after holding steady above 66 percent for the past three quarters. The last time the rate was this low, Bill Clinton was serving his second term as president and James Cameron's Titanic had just hit the silver screen.