Home Ownership Expands In Quarter

About 700,000 individuals and families became new U.S. homeowners during the April-June quarter, boosting the number to a record 66.1 million, the Clinton administration said Monday.

Secretary of Housing and Urban Development Henry G. Cisneros said the 0.3 percent increase resulted in a 65.4 percent homeownership rate, a 15-year high.

Laura D’Andrea Tyson, chairman of President Clinton’s National Economic Council, attributed the growth to the administration’s economic policies that have cut the federal deficit by half while creating more than 10 million jobs.