Dive Brief:
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Barack Obama has been the worst president for U.S. homeownership in history—or at least since 1965, when the U.S. Commerce Department started keeping track.
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Economist Roger Thomas of the investment newsletter ValueWalk studied homeownership rates during each presidential term, and said the rate slid about 5.4% since 2009 under Obama’s watch. The second-worst president for homeownership: Ronald Reagan, whose economy lost 2.7% of homeowners .
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Homeownership thrived under President Bill Clinton, Thomas reported, when it expanded by about 5.1%. The next-best were Presidents Lyndon Johnson and Jimmy Carter, who saw homeownership rise by just shy of 1.1% each.
Dive Insight:
Homeownership, at 63.8% in the first quarter, is at its lowest level since 1989, according to the U.S. Commerce Department, as young adults delay marriage and children while they pay off record-high student debt and struggle to afford skyrocketing rents.