I recently read somewhere that the modern definition of a mortgage came along in the 1930's; evidently, when they were first introduced, it was quite difficult to achieve such a loan, so the homeownership rate during that time was low, at 40%, according to this article. While this may be true, I would like to take the time later, when I have more of it, to delve further into research of the nature of these mortgages and their first years in American financial culture.
What I was able to find today, by briefly jumping onto census.gov, was that, at least since 1965, our homeownership rates have roughly been stagnate. Based on data from the U.S. Census Bureau website, I have constructed the chart below to better illustrate those figures.
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