> The name "homeownership rate" can be misleading. As defined by the US Census Bureau, it is the percentage of homes that are occupied by the owner. It is not the percentage of adults that own their own home. This latter percentage will be significantly lower than the homeownership rate.
To add to what you said, and make it a little easier to visualise why it's misleading:
If you have one person living on their own in a house they own, and four people renting bedrooms in a shared house, the home ownership rate is 50% despite only 20% (1 of the 5) of the people being home owners.
If the home owner then rents out one of their bedrooms to someone expanding the population between the two houses from 5 to 6, then home ownership rate is still 50% but now it's 16.6% (1 in 6) of people who own a home.
It'd be interesting to see what would happen to 35 and up if you excluded everyone born before, idk, 1980, and then again if you excluded everyone born before 1965.
> It'd be interesting ... if you excluded everyone born before ... 1980, and then again .. .before 1965
On one income, I owned my first house in 1994 for $425/mo and next in 2001 for about 2x that. Hurricanes hit elsewhere in 05 & 07 (last here 1921) & I lost the 2nd when my (mandated) insurance doubled my monthly house payment.
By 2021 we could minimally survive on 1.5 incomes (did 1). Today it's 3.5 incomes (have 4).
Your instinct that those numbers don't match the reality you see is probably right. But it's less likely the #s are made up and more likely there are qualifiers.
pseudo0|1 year ago
> The name "homeownership rate" can be misleading. As defined by the US Census Bureau, it is the percentage of homes that are occupied by the owner. It is not the percentage of adults that own their own home. This latter percentage will be significantly lower than the homeownership rate.
https://en.m.wikipedia.org/wiki/Homeownership_in_the_United_...
swores|1 year ago
If you have one person living on their own in a house they own, and four people renting bedrooms in a shared house, the home ownership rate is 50% despite only 20% (1 of the 5) of the people being home owners.
If the home owner then rents out one of their bedrooms to someone expanding the population between the two houses from 5 to 6, then home ownership rate is still 50% but now it's 16.6% (1 in 6) of people who own a home.
lenerdenator|1 year ago
WarOnPrivacy|1 year ago
On one income, I owned my first house in 1994 for $425/mo and next in 2001 for about 2x that. Hurricanes hit elsewhere in 05 & 07 (last here 1921) & I lost the 2nd when my (mandated) insurance doubled my monthly house payment.
By 2021 we could minimally survive on 1.5 incomes (did 1). Today it's 3.5 incomes (have 4).
karatinversion|1 year ago
35-44: 62% 45-54: 70% 55-64: 75% 65+: 79%
shrimp_emoji|1 year ago
WarOnPrivacy|1 year ago