Re:Homes in 97% of U.S. cities are overvalued, Moody's says
by throwaway2037 on Friday May 06, 2022 @01:58AM
(#31281766)
You wrote: <<there are few if any middle-class families in the bay area that own their homes except by inheritance or some other luck (gift, lottery).>> That is a bold, sweeping statement with no supporting evidence provided.
I Googled for about 10 seconds to find some statistics about Bay Area homeownership.
Zoomable map to visualise California homeownership (very cool!): https://dig.abclocal.go.com/california/homeownership-maps/BayArea_homeowners_zip_map.html
Homeownership Rate (5-year estimate) for San Francisco: https://fred.stlouisfed.org/series/HOWNRATEACS006075
At a glance on the first link (zoomable map), the Bay Area looks similar to SoCal (LA/OC/SD). Why do people think homeownership is so low in areas of California with lots of good jobs? It isn't. To be clear: I doubt people on this discussion are interested in homeownership rates in extreme suburbs (2+hours away) and rural areas.
I Googled for about 10 seconds to find some statistics about Bay Area homeownership.
At a glance on the first link (zoomable map), the Bay Area looks similar to SoCal (LA/OC/SD). Why do people think homeownership is so low in areas of California with lots of good jobs? It isn't. To be clear: I doubt people on this discussion are interested in homeownership rates in extreme suburbs (2+hours away) and rural areas.