Comment by HEmanZ
2 days ago
That’s the absolute percentage difference. Look at the under 35 category, it’s literally down 25%. That means 1/4 people that would have owned a house in that age group don’t now. Under 45 is a relative drop of ~17%, so about 1/5. One in four to one in five people is more than enough to see an effect.
I doubt it’s the only cause at all, this anti-social (“Bowling Alone”) trend has been going on for generations, and probably has multiple causes. But the US housing crunch on young people is adding to it.
And this damn attitude of “the younger generations are just entitled weenies” about housing is about the most infuriating attitude in the world. My parents bought their first house on a single earners blue collar salary at the age of 27. That house, with almost no updates, now literally needs a top 1% salary and payments for 30 years to be able to afford. Don’t tell the kids to stop whining when they’re watching older generations gobble up their future in the name of preserving property values.
And for the under-35s, I wonder just what percentage got their homes from their parents, who invested in properties decades ago.