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The US needs to build 2 million houses to revive the American dream of homeownership (www.businessinsider.com)

submitted 5 months ago by [email protected] to c/[email protected]

111 comments fedilink hide all child comments

Paywall removed: https://archive.is/BHsKJ

(page 3) 14 comments

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[–] [email protected] 58 points 5 months ago (10 children)

I don't think the US needs more single family homes, I think we need more, or at least more affordable, multifamily housing. Suburbs are expensive, inefficient, and bad for the environment. What we need to be doing is bringing down the cost of housing in cities, as well as making cities as pedestrian friendly as possible, with walking and biking infrastructure, and public transportation.

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[–] [email protected] -2 points 5 months ago (2 children)

Home ownership is 65%.

These headlines are wild.

[–] [email protected] 20 points 5 months ago

Home ownership is 65%.

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..

[–] [email protected] 7 points 5 months ago (1 children)

Got a source on that? I'm seeing 26% home ownership rate in the US

[–] [email protected] 2 points 5 months ago* (last edited 5 months ago) (3 children)

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/

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[–] [email protected] 22 points 5 months ago

Cool, landlords can buy all of these up too!

[–] [email protected] 67 points 5 months ago (11 children)

Aren't there currently more empty homes than homeless in the US? Like, by a decent margin, too? I think that statistic is getting a bit dated, but I also don't expect it to have improved. What we really need is to treat homes as homes, as essentials for life, instead of as investments. But, of course, that'd cost rich people money instead of giving them a way to make even more money, so we can't do that. I'm sure some towns and cities could benefit from more homes, but the core of the problem is societal, not material.

[–] [email protected] 23 points 5 months ago* (last edited 5 months ago) (3 children)

yes there is currently extra housing but, unfortunately, sites like airbnb have moved large swaths of the housing market to the luxury hotel market leading to a shortage in actual housing as wealthy, investor, and corporate class people pay premiums for short term rentals that most people simply can't compete with.

[–] [email protected] 26 points 5 months ago (6 children)

Airbnb isnt as big a problem as much as corporate owned housing is.

Companies like Blackstone need to be absorbed by the US Govt.

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[–] [email protected] 140 points 5 months ago (2 children)

Building houses to solve the housing crisis implies that the crisis was caused by a lack of homes. Every single one of the 2 million houses would be picked up by a property firm or a Chinese millionaire just the way it has been happening for the last ten years. What you really need is legislation, but what you are getting is more food for the hounds.

[–] [email protected] 57 points 5 months ago* (last edited 5 months ago) (3 children)

Never before have I seen such a confluence of right comment and wrong username

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