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Surur t1_j5yx40a wrote

Reply to comment by strvgglecity in homeownership rate will be over 80% in the future because everyone will be able to own at least a small condo in low cost of living places due to remote work and indoor living. by Pitiful-Internal-196

> Home ownership is dropping in my country.

Really?

> Typically, there is incremental movement for homeownership statistics over time. However, homeownership rates are subject to volatility around larger economic events. For example, after peaking at 69% in 2004, 2008’s Great Recession led to homeownership rates declining, falling to just 63.4% by 2016. As homeownership began to slowly recover, the rate peaked again at 67.9% in the second quarter of 2020 before falling to 65.5% at the end of 2021, most likely due to the pandemic. Homeownership rates may be subject to more volatility in the near future.

Q1 2020 65.3%

Q4 2021 65.5%

Q 3 2022 66%

Do the numbers being different from your perception change your mind at all? Or are your views not fact-based?

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strvgglecity t1_j609gz9 wrote

Annual rates are irrelevant. Long term trends are more important. A smaller percentage of my fellow citizens own homes than they did 25 years ago, or 15 years ago. Home ownership here has morphed into a corporate business opportunity, a commodity that's repackaged and resold over and over to raise prices. I also don't think the 66% figure means much here, be a use homes are so expensive that virtually all of those "owned homes" are actually under mortgages and only technically belong to the resident - the actual owner is the bank, until the mortgage is paid off. Any recession that impacts mortgage payments for a few months, and the home is no longer owned by a resident (that happens here with great regularity every 10-15 years).

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