Home ownership rates continue to fall in Los Angeles and Orange counties.
The region has the worst home-ownership rate in the nation, reports Jonathan Lansner, real estate writer for The Orange County (Calif.) Register.
In the second quarter, only 46.5% of local residents lived in a home they owned, down from 49% in the first quarter and 48.5% a year ago. The L.A.-O.C. area had the lowest home ownership rate in four out of the last five quarters among the 85 metropolitan areas tracked by the U.S. Census Bureau.
New York had the second-worst rate in the second quarter.