Posted on 05/25/2023 7:55:47 AM PDT by ChicagoConservative27
falling by 2 percentage points in 10 years’ time, according to Census Bureau data released Thursday.
Slightly more than 80 million out of 126.8 million occupied housing units across the country were inhabited by homeowners in 2020, putting the nation’s homeownership rate at 63.1 percent.
This is the lowest homeownership rate since 1970.
West Virginia and Maine had the highest 2020 homeownership rates at 72.6 percent and 71 percent, respectively. But each of these states experienced a decline from the 2010 Census figures.
(Excerpt) Read more at thehill.com ...
Broken down by race, 2020 homeownership rates were highest among white households at 70 percent, followed by Asian households coming in at 58.5 percent. The homeownership rate was lowest among Native Hawaiian or Pacific Islander householders.
On the rental side, housing units taken up by renters increased by close to 15 percent over the decade, reaching 46.8 million renter-occupied units.
“Native Hawaiian”
I actually kinda feel bad for this one minority. I can see that it is almost impossible to be able to afford a house on Oahu or Maui. On the Big Island of Hawaii you can only afford to live on the Hilo side.
On my one visit to Honolulu I have never seen so many homeless people. Of course, IF I had to be homeless, Hawaii would be an okay place to sleep outdoors year round.
I get three or four inquiries each and every week about selling my house, with the Realtor planning on converting it to rental property. Half of my neighborhood is now renters.
Make all the Air BnB type houses abide by hotel regulations.
That may help
Gee, maybe artificially keeping interest rates at zero and endlessly printing money to debase the currency is not a viable long-term economic strategy?
Some people have to suffer so Larry Fink, Blackrock and the Deep State can do well.
GM,
I JUST had this conversation twenty minutes ago, in a call with a friend.
Three years ago, our street of nine homes, close to the beach, had only one rental property. Today, 4 of the 9 are rentals, one of which is a VRBO, with continous short term “party people”. I never dreamed this street would turn into 50% rentals. If we get any more rentals, I’ll be moving and only selling to a homstead buyer as a courtesy to the remaining neighbors. It is only a matter of time before a section 8/HUD renter shows up with the problems and the values will plummet.
The Democrat Riots of 2020 show that politicians will sacrifice any and all residents to further their agenda.
Adding illegal aliens only makes it worse.
The ability to pick up and move may be far, far more valuable than any potential gain involving a mortgaged property.
Baby boomers moving into assisted living.
“I have no idea how anybody affords the rent in the newer apartment buildings near me. 2,300-5,000 grand a month”
STEP 1 is to NOT live in NYC, the Northeast, or the West Coast.
STEP 2 is to NOT live in a community that is infested with gays.
Agreed. Eventually there is going to be a revolt against AirBnBs, with people torching them. It's coming.
The northeast has a lot of towns without high rental rates .
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