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Economic Commentary

Current Perspectives on Home Ownership

Between 1970 and 1979, the median sales price of an existing single-family home rose roughly 170 percent, while the general price level increased 113 percent. The number of housing units also increased substantially: 17.8 million housing units were produced during the 1970s, or 24 percent more than in the previous decade.1 As the 1970s advanced, the role of housing shifted from primarily a consumption item to an investment item, a role that was further enhanced by declines in real after-tax returns on such financial assets as stocks, bonds, and savings accounts

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This paper and its data are subject to revision; please visit for updates.

Suggested Citation

Menich, Judy. 1981. “Current Perspectives on Home Ownership.” Federal Reserve Bank of Cleveland, Economic Commentary 11/2/1981.

This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International