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Homeownership rate is very locally variable, so national averages miss a lot of nuance in the housing discussion. For example over the last 10 years its decreas
by asdff 3y ago
Homeownership rate is very locally variable, so national averages miss a lot of nuance in the housing discussion. For example over the last 10 years its decreased in the Bay Area, and in S.F. county its only about 38%.
- echelon 3y agoSF is a venture capital subsidy into real estate. It's not representative of the broader US.
- asdff 3y agoI will give you data for other in demand housing markets then to demonstrate how variable this stat is. In LA county, the homeownership rate is 46%. The homeownership rate in Queens is 45%, the homeownership rate in Brooklyn is 30%, in Manhattan its 24%, and in the Bronx its 20%. In Boston its 34%. In Miami its about 31%. Really, homeownership is quite low in most in demand markets, especially ones that have been in demand for some time now.
- ohbleek 3y agoThank you for adding this information. It shows how important it is to get granular with data otherwise so much nuance gets lost in the interpretation.