Dive Brief:

• As new households form over the next 15 years, the majority of them will rent rather than buy their homes, according to the Urban Institute.

• While more people will own their homes than rent them, the number of new homeowners will substantially decline, the Institute said. 

• The report estimated that between 2010 and 2030, the majority (59%) of the 22 million new households that form will rent, while just 41% will buy their homes.

Dive Insight:

Here’s what’s standing between potential first-time buyers and homeownership, according to the report: declining wages; student loans; delayed marriage; tight credit; the lingering effects of the recession; and a lack of interest in owning property.

The report’s authors called homeownership, which has been declining since 2006, an issue for federal and local policymakers.

They called for policies that allow Americans to safely age in their own homes and to relax the standards for qualifying for mortgages, especially for minorities.