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> The true demand from people with the intend to actually live in the estates has been constantly decreasing since around 2000; the real salarys dropped since t
by xadhominemx 4y ago
> The true demand from people with the intend to actually live in the estates has been constantly decreasing since around 2000; the real salarys dropped since then, so did the buying power.
> When 90 (?) percent of people simply lack the buying power to participate in the real estate market, but the other 10% happily sell each other estates, that's not a bubble, the real estate market just stopped interfacing with the vast majority of the population.
Nonsense. The home ownership rate is 65%, in-line with the long term average and the same as it was in the year 2000
https://fred.stlouisfed.org/series/RHORUSQ156N https://fred.stlouisfed.org/series/RHORUSQ156N
- deleted 4y ago[deleted]
- mirntyfirty 4y agoI’d disagree in the sense that the home ownership population differs from those that have been buying or selling in the last few years.
- xadhominemx 4y agoIf millennials were not buying homes at similar rates to their parents, the home ownership rate would be declining
- ClumsyPilot 4y agoThere is no need for hypotheticals, we know for a fact they are not buying homws at a similar rate as their parents
- xadhominemx 4y agoHome ownership rates for people under 35 is the same as it was in the mid-90’s and only a few % lower than it was at the peak of the housing bubble
- jeffreyrogers 4y agoPeople still talk about millennials as if they are still in their 20s, but the oldest millennials are now 40. I'd guess that age of first home purchase has been trending up for a while.
- petra 4y agoMore people are investing in real-estate, and less millenials are buying.
- alistairSH 4y agoMillennials made up 43% of home-buyers in 2021, the largest of any generation. That's up from 37% in 2020. https://www.nar.realtor/newsroom/nar-report-shows-share-of-millennial-home-buyers-continues-to-rise https://www.nar.realtor/newsroom/nar-report-shows-share-of-m...
- eli_gottlieb 4y ago>Nonsense. The home ownership rate is 65%, in-line with the long term average and the same as it was in the year 2000 The homeownership rate is counted in terms of households, no? So it can be kept artificially high just by having 20-somethings no longer move out of their parents' houses.
- mminer237 4y agoThat wouldn't count against it, but it wouldn't count for it either.
- bogomipz 4y agoThe Baby-Boomer generation in the US is increasingly deciding to "age in place" rather than downsize and/or move to assisted living facilities. This is certainly a factor in the ownership figure you are quoting. There has been lots of coverage in this trend the last few years as well. See: https://www.nytimes.com/2021/07/08/realestate/baby-boomers-rich-with-real-estate-and-not-letting-go.html https://www.nytimes.com/2021/07/08/realestate/baby-boomers-r... and https://archive.ph/0LXQu https://archive.ph/0LXQu