11 ms·

As far as home ownership rate, over 50% of Californians own their home. https://ipropertymanagement.com/research/homeownership-rate-by-state https://ipropertym

by dangus 3y ago

As far as home ownership rate, over 50% of Californians own their home. https://ipropertymanagement.com/research/homeownership-rate-by-state https://ipropertymanagement.com/research/homeownership-rate-... It is the second lowest number in the country, but I always find articles like these a bit of a contrast compared to the actual home ownership statistics.

habitue 3y ago
Home ownership rate is a lagging indicator, affordability is a leading indicator. Many people in California own their homes because they bought them a long time ago and held on.
- fiddlerwoaroof 3y ago
  I wonder if there’s some measure to forecast this, though: if the median age of a homeowner is x years (and the trend is aging), then in y years, half the currently owned houses will have changed owners. What are the values of x and y?
- s1artibartfast 3y ago
  Lagging or leading what exactly? Home ownership is the present indicator of home ownership.
  - ImPostingOnHN 3y ago
    The thing we want to measure and address is affordability for new buyers, not current ownership. Addressing the former will increase the latter, because the latter is a lagging indicator of affordability (which, again, is what we want to measure)
  - xboxnolifes 3y ago
    Home owners bought their houses in the past. Affordability indicators look at present rates.
YokoZar 3y ago
50% of Californians live in an owner-occupied home. That's what the weirdly named "home ownership rate" measures. Move back in with your parents? Rent a room from a live-in-landlord because you can't afford your own place? Congrats, you are a "home owner" according to that number!
- michaelmrose 3y ago
  Consider this resource https://ternercenter.berkeley.edu/wp-content/uploads/2023/05/Homeownership-Ladder-May-2023-Final.pdf https://ternercenter.berkeley.edu/wp-content/uploads/2023/05... > We define an owner as someone who3 A TERNER CENTER RESEARCH PAPER - MAY 2023both (1) lives in an owned home and (2) is the householder or spouse of the householder In short in 2021 California's homeownership rate was 44.7% At the age of 25-35 when one at one point might have been expected to get a cheap "starter home" It's actually 15.5% 35-45 when people are well into the prime of their earning years its 39%. Most of us are stuck renting apartments owned by giant greedy corps or houses owned by older people who bought in when it was still possible for more average folks to do so. As prices go up look to see that growth in income sustained by renting out more properties by the room instead of by the building something already evident in higher priced markets like urban settings. I for one look forward to 70 year olds try to justify why a singular house is pulling in 45% of the income of each of the 5 residents renting rooms there by pointing at the medical industry which is busy siphoning off most of that money which everyone is super excited about since it now is projected to help them live to 90 despite their bad and unhealthy lifestyle. Helping the young people get started will mean the family gets money together to cover the room deposit so they can move down the hall. It will I'm sure be lovely.
  - deleted 3y ago
    [deleted]

by dangus 3y ago

habitue 3y ago

Home ownership rate is a lagging indicator, affordability is a leading indicator. Many people in California own their homes because they bought them a long time ago and held on.

fiddlerwoaroof 3y ago
I wonder if there’s some measure to forecast this, though: if the median age of a homeowner is x years (and the trend is aging), then in y years, half the currently owned houses will have changed owners. What are the values of x and y?
s1artibartfast 3y ago
Lagging or leading what exactly? Home ownership is the present indicator of home ownership.
- ImPostingOnHN 3y ago
  The thing we want to measure and address is affordability for new buyers, not current ownership. Addressing the former will increase the latter, because the latter is a lagging indicator of affordability (which, again, is what we want to measure)
- xboxnolifes 3y ago
  Home owners bought their houses in the past. Affordability indicators look at present rates.

YokoZar 3y ago

50% of Californians live in an owner-occupied home. That's what the weirdly named "home ownership rate" measures. Move back in with your parents? Rent a room from a live-in-landlord because you can't afford your own place? Congrats, you are a "home owner" according to that number!

michaelmrose 3y ago
Consider this resource https://ternercenter.berkeley.edu/wp-content/uploads/2023/05/Homeownership-Ladder-May-2023-Final.pdf https://ternercenter.berkeley.edu/wp-content/uploads/2023/05... > We define an owner as someone who3 A TERNER CENTER RESEARCH PAPER - MAY 2023both (1) lives in an owned home and (2) is the householder or spouse of the householder In short in 2021 California's homeownership rate was 44.7% At the age of 25-35 when one at one point might have been expected to get a cheap "starter home" It's actually 15.5% 35-45 when people are well into the prime of their earning years its 39%. Most of us are stuck renting apartments owned by giant greedy corps or houses owned by older people who bought in when it was still possible for more average folks to do so. As prices go up look to see that growth in income sustained by renting out more properties by the room instead of by the building something already evident in higher priced markets like urban settings. I for one look forward to 70 year olds try to justify why a singular house is pulling in 45% of the income of each of the 5 residents renting rooms there by pointing at the medical industry which is busy siphoning off most of that money which everyone is super excited about since it now is projected to help them live to 90 despite their bad and unhealthy lifestyle. Helping the young people get started will mean the family gets money together to cover the room deposit so they can move down the hall. It will I'm sure be lovely.
- deleted 3y ago
  [deleted]