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Consider that: - Most American households own their home. - Homeowners vote at substantially higher rates than renters. - Home equity is one of the largest c
by srj 5y ago
Consider that:
- Most American households own their home.
- Homeowners vote at substantially higher rates than renters.
- Home equity is one of the largest components of American wealth (roughly equal with retirement accounts).
Taken together it's difficult to see how home values will be allowed to fall.
- dvdhnt 5y ago> Most American households own their home. Do you have a reference for that? I'm interested to see how it breaks down. I have to assume this is true because of America's aging population.
- kregasaurusrex 5y agoThere's data released directly by the US Census Bureau for this: https://fred.stlouisfed.org/series/RHORUSQ156N https://fred.stlouisfed.org/series/RHORUSQ156N
- throwaway2037 5y agoWiki says 64.2% in 2018. Ref: https://en.wikipedia.org/wiki/Home-ownership_in_the_United_States https://en.wikipedia.org/wiki/Home-ownership_in_the_United_S...
- squiggleblaz 5y ago> Taken together it's difficult to see how home values will be allowed to fall. If you allow increased density, and you use it to provide actually valuable homes (rather than studio/one/two bed apartments or the like mostly intended as a store of wealth), then land value can go up while unit value goes down. This means people joining the market can buy for a couple of years salary, while people already in the market can exit and downsize for a decade's salary.
- rch 5y agoI would very much like this to be true. Do you have a citable source?
- deleted 5y ago[deleted]