Post-WWII the US home ownership rate increased from under 50% to between 60% and 70% and has stayed there ever since. https://dqydj.com/wp-content/uploads/2014/

Post-WWII the US home ownership rate increased from under 50% to between 60% and 70% and has stayed there ever since. https://dqydj.com/wp-content/uploads/2014/11/historical_homeownership_1890_present_USA.png https://dqydj.com/wp-content/uploads/2014/11/historical_home... I'd argue that this makes for a bad public policy environment. With such a high levels of concentrated investment in a single asset class political manipulation of that asset class isn't just tempting, it's practically a political necessity. What the voters demand is impossible to sustain forever (monotonically increasing nominal prices and above the rate of general inflation growth over every five year period), but with such high political pressure politicians try anyway.