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Subject Homeownership Rate in U.S. Falls to Lowest Since 1997
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The U.S. homeownership rate fell to the lowest level in 15 years in the first quarter as borrowers lost homes to foreclosure and tighter inventory and credit kept buyers off the market.

The ownership rate may drop below 64 percent by the end of 2015 and stay there for years, Scott Simon, the mortgage bond head of Pacific Investment Management Co. in Newport Beach, California, said in an e-mail today.

“It will be lower by 2017,” he said. “It will be lower in 2020.”

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[link to www.bloomberg.com]
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