South By North Strategies, Ltd.

Calculated Risk graphs changes in homeownership rates by age group between 1989 and the second quarter of 2010. The rates are now below the 1989 and 1999 levels for every age cohort between the ages of 30 and 60 with the single hardest-hit group being the 30-35 age bracket.

The graph below also traces the changes in the overall homeownership rate that occurred between 1989 and early 2010. Risk predicts that the overall rate will fall to 66 percent, down from a high of 69 percent at the peak of the housing bubble. This level is not much different that what would be expected based on changes in the population that have taken place since 1989.

So much for all that “financial innovation.”