In the decade since the start of the Great Recession, the housing market is bouncing back with household equity rising back up to pre-recession levels, and the homeownership rate slowly growing.
The homeownership rate is having more sluggish growth in part due to first-time homebuyers being forced into the rental market, per CNN. Student loan debt and high home prices in cities are important factors, however, the Census Bureau reports that one in three young people lived with their parents in 2015, up from one in four in 2005.
A big part of the plunge in household net worth had to do with housing. As the financial crisis deepened, the delinquency rate for single-family mortgages spiked to 11.5 percent, and millions of homes went into foreclosure. In three years, the total amount of equity held by homeowners was cut in half.
