2 ms·

> Boomers are 21% of the population, but 38% of the homes. Only 54% of Millennials are homeowners. 2/3 of Americans own homes. > No; families pool multiple lo

• gjsman-1000 2y ago
  > 2/3 of Americans own homes. You keep saying this like it's a good thing. That's a disaster - China has 93%. Romania has 95%. Russia has 92%. India has 86%. A 2/3s homeownership rate is an embarrassment, and shows we haven't addressed this problem sufficiently. > So the whole family will be mad when their home equity goes down. "Don't fix the system; better think of those short term equity values! Even better, don't build housing!"
  • arcticbull 2y ago
    > You keep saying this like it's a good thing. That's a disaster - China has 93%. Romania has 95%. Russia has 92%. India has 86%. A 2/3s homeownership rate is an embarrassment, and shows we haven't addressed this problem sufficiently. I'm specifically responding to the idea that "most Americans" would love to see house prices drop. Only 1/3 of Americans would like to see house prices drop, the rest would be mad. That's why this hasn't been addressed in the past. > "Don't fix the system; better think of those short term equity values! Even better, don't build housing!" I'm advocating for building more houses, and am pointing out that the immigration axis is irrelevant to the cost of housing in HCOL areas.
  • est31 2y ago
    > China has 93% Note that "homeowner" in China means leaseholder. So strictly speaking, they aren't really homeowners. Land in cities is owned by the state as per the Chinese constitution, and then pieced up and handed out to citizens via temporary (decades long) leases.