WKOW 27: Madison, WI Breaking News, Weather and SportsHome ownership rate drops to 1998 levels

WASHINGTON (WKOW) -- The US Census Bureau reports home ownership has declined.

The agency says 66 percent of Americans owned homes in the fourth quarter of last year. That was down slightly from the third quarter.

Home ownership is now at the same level it was in 1998. Analysts blame tough lending standards and foreclosures for the drop in home ownership.