Earlier quoted context omitted.
> Normal people are renting apartments or portions of homes. About 2/3 of households in the US own the home they live in. Renting is the minority, not the majority.
Thank you for mentioning this! There's this weird, persistent meme that large corporations are buying up all the housing and nobody owns homes anymore, which is fundamentally not supported by the data. There are shifting trends in generational home ownership rates, but these are still just initial trends we're seeing. If you look at the data [0] owner occupied has gone down from the 2000s housing bubble, but in the g…
And those old folks that took their home equity and used it to buy property for an AirBNB are in fact an example of the rich/old folks screwing the young generation hard. (Other examples: vote to reduce taxes, to increase tuition, stop the free market from building more housing, do nothing on global warming, let the economy be swallowed by health care and financialized scams). As are the people that own and rent 3 houses, while their grandkids have to move far away. (Disclaimer: I live in San Jose, and my adult kids will never be able to live near me).