The US needs to build 2 million houses to revive the American dream of homeownership
The US needs to build 2 million houses to revive the American dream of homeownership
"Following the GFC, new residential construction effectively stopped, and we have been trying to catch up ever since," NDR said.
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Home ownership is 65%.
These headlines are wild.
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Home ownership is 65%.
That's 65% of homes are occupied by the owners, not 65% of the population owns their home.
Those are wildly different things and people keep using the former in a likely attempt to portray the latter as much higher than it really is.
In fact, that second statistic is impossible to find as every article or study from a mainstream or even semi mainstream source uses only the misleading one.
Tl; dr:
"How many homes are occupied by their owners" ≠ "How many people own their home"
Addendum: That almost 35% of all homes are owned by someone who doesn't live there shouldn't be a point of pride..
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Got a source on that? I'm seeing 26% home ownership rate in the US
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The census. I have no idea where you got that 26% number. That's not even in the realm of close by hand grenade standards.
https://www.statista.com/statistics/184902/homeownership-rate-in-the-us-since-2003/
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That is the percentage of homes owned by the people living in them, not the percentage of Americans who own homes.
Over a third (35%) of single family homes are owned by landlords, not by the people living in them. When a third of your single family homes are not owned by single families, then there is an issue.
The 26% number another person used might be percentage of US adults who own a home, but I can't find that number anywhere. The difference is most single family homes have 2 adults (or more) but is only "owned" by one of them. Or that is a statistic that uses multi-family housing where most of the families are renters.
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Doesn’t technically the bank own it until you pay off your mortgage? I’d be curious how many have the titles to their house.
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I had actually put that info in my post but deleted it. It's around 34% that own their house outright without a loan.
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