Which is exactly the point: the home ownership rate does not, contrary to its name, give a real description of what proportion of people own homes. It describes

Which is exactly the point: the home ownership rate does not, contrary to its name, give a real description of what proportion of people own homes. It describes the proportion of homes that are owner-occupied, which is an entirely different thing. And if what we're trying to do is figure out what the common man (whatever that is) rents or owns, it's a terrible and misleading measure to use.