Home Ownership Continues to Decline

FRESNO, Calif. (KMJ) — Home prices have picked up, and foreclosure rates have fallen.

But according to the Harvard University Joint Center for Housing Studies, the struggle for middle class is far from over.

The home ownership rate dropped to less than 65% last year, virtually erasing all of the increase from the past two decades.

Additionally, rent continues to rise, while income remains well bellow pre-recession levels.

The center says what’s even more troubling, is the fact that cost burdens continue to climb up the income ladder.