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The US needs to build 2 million houses to revive the American dream of homeownership
(www.businessinsider.com)
this post was submitted on 19 Jun 2024
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Home ownership is 65%.
These headlines are wild.
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..
Got a source on that? I'm seeing 26% home ownership rate in the US
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/
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.
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.
I had actually put that info in my post but deleted it. It's around 34% that own their house outright without a loan.