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by kasey_junk
318 days ago
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Homeownership rates are not particularly out of band right now. They’ve kept within a couple of % points for the entire post ww2 era. They’ve kept within track almost exactly mortgage rates. They are higher they were 10 years ago for instance. https://fred.stlouisfed.org/series/RHORUSQ156N But note that’s not the same thing as housing affordability. You probably can goose the homeownership rate by appropriating a bunch of homes and redistributing them to the marginal buyers who are currently not owners. But it will not drop the price of housing, it will increase it because supply will still be constrained (think of the normal case of someone moving temporarily for work. If you disincentivize them being allowed to rent the unit out you now have 2 units off the market). Carry cost is mostly about financing costs and regulations not the price of homes. |
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