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In 1960 61%[0] of Americans owned their own home, it’s around 66%[1] now. Go back to before WW2 and you’ll see a homeowner rate in the 40% (which makes sense as
by kasey_junk 3y ago
In 1960 61%[0] of Americans owned their own home, it’s around 66%[1] now. Go back to before WW2 and you’ll see a homeowner rate in the 40% (which makes sense as our current public policy was largely enacted post war).
When people say home ownership rates are down they are comparing it to the pre-2008 bubble deflate when it was a whopping 3% more homeowners. We have more homeowners now than during the childhood of any of the home owning cohort.
That is to say we don’t have record low home ownership rates, we have rates within the normal band for our current public policy.
[0] https://www2.census.gov/programs-surveys/decennial/tables/time-series/coh-owner/owner-tab.txt https://www2.census.gov/programs-surveys/decennial/tables/ti...
[1] https://fred.stlouisfed.org/series/RHORUSQ156N https://fred.stlouisfed.org/series/RHORUSQ156N
- no_wizard 3y agoIt’s not the percentage one should be concerned with but rather who’s owning the homes. It is skewing older and older as people in their 30s get locked out of the market, and it’s harder for people even younger beyond that. The median age of home owners has steadily been rising. For many, and increasingly i think will be the majority unless something changes, the first home they buy is simply going to be the only one, as well. The rates of people moving homes has dropped steadily as well, as people can’t afford to own a home and then upgrade to a newer / different one down the line
- kasey_junk 3y agoThe median age of the whole population is rising, which may be concerning on its own, but makes age defined stats pretty meaningless.