What you're saying resonates with me intuitively and anecdotally, but it's hard to square with the historical overall US homeownership rate, which peaked right

What you're saying resonates with me intuitively and anecdotally, but it's hard to square with the historical overall US homeownership rate, which peaked right before the Great Recession: https://fred.stlouisfed.org/series/RHORUSQ156N https://fred.stlouisfed.org/series/RHORUSQ156N Is there other data available that supports your view?