The State of the Nation’s Housing 1998

Now in its eighth year of sustained growth, the U.S. economy has brought unprecedented strength to housing production and sales. Spurred by strong employment growth, low mortgage interest rates, and new, more flexible financing options, national homeownership rates have reached an all-time high. The gains in homeownership are broadly based, with young adults making up much of the ground they lost during the 1980s, and minority and moderate-income households purchasing homes in record numbers…