Home Ownership Fades For San Diegans

The San Diego Union Tribune reports:

The dream of homeownership is still alive in today’s tough economy, but it has become harder to achieve.

The strongest evidence came from the latest census figures that show a small percentage of San Diegans own their own homes today than they did 10 years ago.

Five years ago, loose lending policies made buying easy, and many consumers considered their homes as an investment that would never lose value.

Now, housing prices are down 37.8 percent from their peak of 2005 and mortgage terms have tightened up, calling into question both the reason to buy and the ability to buy.

Can you say lower prices?