California's low homeownership rate has persisted over decades, only recently standing at about 55% compared to the national average of 69%. The article argues that the state should reconsider its housing policies, noting a pattern where states with high homeownership rates also prioritize single-family housing. A high offering of rental properties can discourage home purchasing. With California's ownership rates stagnating since 1988, the article suggests a potential shift in focus from promoting homeownership to also valuing long-term renting as a viable option.
The article suggests that California's low homeownership rate may be improved by focusing more on building single-family homes instead of a high number of rental units.
It highlights the correlation between residential construction types and homeownership rates, indicating that states with more single-family homes tend to have higher ownership.
Collection
[
|
...
]