Recession caused severe cut in Utah homeownership rate

Homeownership rates in Utah plunged from record highs during the run-up to the Great Recession to an 18-year low last year, underscoring the damage done by the worst economic crisis in Utah since the 1930s. At the dawn of 2008, when the recession was just a month old, 76.2 percent of homes in the state were owned. Four years later, the figure had dropped to 71.1 percent — the lowest rate of homeownership since 1994, according to U.S. Census figures. The decline mirrors a staggering employment de...

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