4 ms·
Right. There are good financial reasons to own a home even if you don't think it's going to be a great investment, just as there are very good reasons not to ow
by tptacek 10mo ago
Right. There are good financial reasons to own a home even if you don't think it's going to be a great investment, just as there are very good reasons not to own a home even if you have the means. It's the absolute, which is the premise of this policy proposal, that's the problem.
- kasey_junk 10mo agoAnd home ownership rates are well within the normal range for the US post war regime! So this is a policy proposal that will likely decrease affordability to fix a problem that doesn’t exist.
- tfehring 10mo agoHomeownership rates are only ~flat in aggregate because the population is aging and older people are more likely to own their homes. The homeownership rates of Americans aged <35, 35-44, and 45-54 are down ~10% since 1982 and continuing to decrease. https://www.census.gov/housing/hvs/data/charts/fig07.pdf https://www.census.gov/housing/hvs/data/charts/fig07.pdf
- tptacek 10mo agoYou just told a story about how we need to build more housing. Kasey and I agree with you about that. The point is that there isn't a distortionary corporate investment force preventing young people from doing that; what there are is zoning and permitting rules locking every desirable location into stasis.