"The math shows that residential construction is more heavily focused on single-family housing in the states with the highest homeownership rates."
"Ownership is largely stagnant as costs go through the roof, to use a bad pun."
"California is a prime example of what didn't work, with only 55% of households owning their homes in 2022-2024."
"Is it time to reprioritize housing policies and put renting on a relatively equal standing with ownership?"
California has struggled with a low homeownership rate, currently at 55%, partly due to an emphasis on multifamily housing over single-family homes. Historical data indicates that states with higher homeownership prioritize single-family construction. The state's homeownership peaked in 2006 but has since stagnated. Given the increasing costs of housing and stagnant ownership rates, the article suggests re-evaluating housing policies to place renting and ownership on more equal footing, considering the challenges faced in boosting the 'American Dream' of homeownership.
#california-housing #homeownership-rates #housing-policy #residential-construction #renting-vs-owning
Read at The Mercury News
Unable to calculate read time
Collection
[
|
...
]