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Families headed by young householders were less likely to own homes in 1990 than in 1983. In fact, there was a 30 percent decrease in the number of households headed by people aged 15 to 24 from 1980 to 1990. In 1990 the people-under-25 homeownership rate is 15.7%, in 2000 it’s 21.7%, and in 2010 it’s 22.8%. Of those from 20 to 44 years old, the only groups to increase their homeownership rates or remain stable from 1980 to 1990 are nonfamilies and male householders. (Nonfamily households are people who live alone or with unrelated people.) But from 1990 to 2010, the homeownership rates of people 30 to 59 decreased a bit, while older people’s rates went up. Among nonfamily households, homeownership is increasing rapidly among singles—from 49% in 1990 to 55.3% in 2010. (Source: US Census Bureau)
51 percent of the elderly feel little attachment to their home; 33 percent see it as just another investment
Of those who own their homes, less feel any attachment to a particular home. In a small survey (500 representative Americans aged 65 or older) by Transamerica Life Companies, 51 percent of the elderly feel little attachment to their home; 33 percent see it as just another investment. Among people aged 45 to 54, there is even less attachment, only 19 percent agree that it's important to keep their home in the family, and 42 percent see it as just another asset.