U.S. Homeownership Rate Declined Last Year to 64.5 Pct, the Lowest Since 1994

People are scared out of their wits about buying a house now. As can be seen from the chart, they weren't when prices were soaring and interest rates were much higher.

I am generally not a fan of buying a house for investment purposes, but given current prices and the very low mortgage rates, I consider it an ideal time to buy (Don't get an adjustable rate mortgage, get a fixed rate--lock in these rates before they climb.)