If you want to know why housing prices wont ever go down voluntarily, look at this map. The majority of people in every state is a homeowner and most people won’t voluntarily choose to give up tens or hundreds of thousands of dollars out of their own pockets. It’s a global issue and not limited to any state or country. How do you sell to most people the idea of lighting tens or hundreds of thousands of dollars on fire from their net worth?
Jackalscott on
Wow California is 56%?! I guess all the rural areas around the state really bolster that number. I work with many engineers in Cali who make great money and they can’t afford to buy. One of them even bought a really nice house in Austin as a rental property while living in an apartment out there.
gatsome on
Add a NY renter, it’s actually quite terrible around here
Local_Pomegranate_10 on
I’m surprised by how high Mississippi is.
turboninja3011 on
CA is just a shit-show with their prop 13.
Unless you own for 20 years it s so much cheaper to rent (from somebody who owned for 20 years and pays pennies in taxes – thus being able to offer lower rent prices).
Tongueslanguage on
Question, are there any legitimate studies on the correlation between housing prices and percent of houses that are owner-occupied?
Outrageous_bohemian on
Why does NY look funny around them?
Legitimate_Mobile337 on
Its a myth we dont own anything so its all 0%
Loud_Judgment_270 on
So I guess home ownership isn’t as tied to wealth as we are told
Moog-a-loo on
I feel fortunate to be a homeowner. I definitely worry about my kids ever having one though. A house that was 150k a handful of years ago is over 350k now.
Our little „Starter“ home is pretty much locked for life because the equity we’ve built over 17 years is next to worthless. Even if we put every penny into the dumb, dime a dozen split level we always wanted, the monthly payment would still be triple what we pay now, and we’re at an age where we can’t responsibly consider another 20-30 year mortgage because we don’t want to still be paying when we consider (haha) retirement
So we’re stuck and it means our home won’t be available for any new owners to get their foot in the door
Funny thing? We got this house literally weeks before the 2008 crash. So we bought for 100k, it immediately crashed down to 50k which put us underwater for years and now, somehow it’s worth over 150k? Bullshit
legal_stylist on
High rates of home ownership correlates with high rates of poverty.
Mr-Almighty on
Now do it for millennials .
scolbert08 on
Note that the homeownership rate is not the same things as the percent who own homes. That number is lower.
Gobal_Outcast02 on
„Percentage of Households that are owner occupied.“
Those percentages aren’t the amount of population that own homes. Just the amount of homes where the owner lives in it.
LukasJackson67 on
I have read on the reddit askagerman site that the high rate of homeownership in the USA is actually a bad thing.
MentalAd9915 on
Part of me is surprised by Hawaii (expected it to be in the 50s), but, we have a lot of multigenerational homes, elderly, and military.
ajafaboy on
Is this map showing a percentage of homes that are *own*-owned or just share-cropper owned, you know, as in the bank actually has the named ‘owner’ by the balls, and will snatch back that home should that ‘owner’ fall into distress somehow? I’d be more interested in seeing a map representation of freehold homes in the US. That would likely tell quite a different story.
Augustus420 on
What a fucking depressing map.
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If you want to know why housing prices wont ever go down voluntarily, look at this map. The majority of people in every state is a homeowner and most people won’t voluntarily choose to give up tens or hundreds of thousands of dollars out of their own pockets. It’s a global issue and not limited to any state or country. How do you sell to most people the idea of lighting tens or hundreds of thousands of dollars on fire from their net worth?
Wow California is 56%?! I guess all the rural areas around the state really bolster that number. I work with many engineers in Cali who make great money and they can’t afford to buy. One of them even bought a really nice house in Austin as a rental property while living in an apartment out there.
Add a NY renter, it’s actually quite terrible around here
I’m surprised by how high Mississippi is.
CA is just a shit-show with their prop 13.
Unless you own for 20 years it s so much cheaper to rent (from somebody who owned for 20 years and pays pennies in taxes – thus being able to offer lower rent prices).
Question, are there any legitimate studies on the correlation between housing prices and percent of houses that are owner-occupied?
Why does NY look funny around them?
Its a myth we dont own anything so its all 0%
So I guess home ownership isn’t as tied to wealth as we are told
I feel fortunate to be a homeowner. I definitely worry about my kids ever having one though. A house that was 150k a handful of years ago is over 350k now.
Our little „Starter“ home is pretty much locked for life because the equity we’ve built over 17 years is next to worthless. Even if we put every penny into the dumb, dime a dozen split level we always wanted, the monthly payment would still be triple what we pay now, and we’re at an age where we can’t responsibly consider another 20-30 year mortgage because we don’t want to still be paying when we consider (haha) retirement
So we’re stuck and it means our home won’t be available for any new owners to get their foot in the door
Funny thing? We got this house literally weeks before the 2008 crash. So we bought for 100k, it immediately crashed down to 50k which put us underwater for years and now, somehow it’s worth over 150k? Bullshit
High rates of home ownership correlates with high rates of poverty.
Now do it for millennials .
Note that the homeownership rate is not the same things as the percent who own homes. That number is lower.
„Percentage of Households that are owner occupied.“
Those percentages aren’t the amount of population that own homes. Just the amount of homes where the owner lives in it.
I have read on the reddit askagerman site that the high rate of homeownership in the USA is actually a bad thing.
Part of me is surprised by Hawaii (expected it to be in the 50s), but, we have a lot of multigenerational homes, elderly, and military.
Is this map showing a percentage of homes that are *own*-owned or just share-cropper owned, you know, as in the bank actually has the named ‘owner’ by the balls, and will snatch back that home should that ‘owner’ fall into distress somehow? I’d be more interested in seeing a map representation of freehold homes in the US. That would likely tell quite a different story.
What a fucking depressing map.