This doesn't capture the relative precarity of home-ownership over time. So we've opened home-ownership to a few million more people. Aree they putting the same proportion of their paychecks towards mortgage payments? Are they sacrificing anything else in order to be able to make them? Were they forced into money pits because rent has become unaffordable? How much more or less likely are they to lose their houses in another downturn, if they lose their jobs, if they get sick, compared to the last 50 years? How do people's feelings and behavior change under these circumstances?
It doesn't seem so simple as, "More people own homes, stability is assured."
It doesn't seem so simple as, "More people own homes, stability is assured."