What primarily contributed to the surge in home ownership following World War II?

The surge in home ownership following World War II can be primarily attributed to low mortgage rates with government insurance. After the war, there was a significant push from the government to promote home ownership as a means of stabilizing the economy and ensuring returning veterans had a place to live. Programs such as those offered by the GI Bill included provisions for guaranteed loans, making it easier and more affordable for veterans to purchase homes. These government-backed mortgages offered lower interest rates and less stringent qualification criteria, enabling many families to buy homes who might not have been able to do so before.

In addition to financial incentives, the post-war economic boom increased consumer confidence and disposable income, further driving the demand for home ownership. The combination of low mortgage rates and government support created a favorable environment for home purchasing, contributing significantly to the rise in home ownership rates during that period.