> This is percentage of householders who own the home that they are the householder of.
It is not. It's a ratio of homeowners in an age group to the number of renter households in that age group, which is kinda a useless statistic.
To explain why it's a bad metric take this real (but simplified) example. My roommate and I share a "household". Lets pretend that besides my roommate and I there is only one other person aged 30-34 in the US and they own a home.
The Homeownership Rates by Age of Householder chart would say 50%. 1 owner household / 2 total occupied households.
Now if you read that chart and take it to mean that there is only 1 homeowner and 1 renter, you would be misunderstanding what the statistics mean. There are more renters than homeowners in our example but the metric doesn't reflect that because it isn't meant to.
This is a fair argument and as late as it is I don't have a reply—you're right that there are limitations that I hadn't considered, and I'll have to look at the numbers more closely to figure out what they mean *.
However, I want to note that this represents a sudden change of pace from your original "49% of us are homeowners or renters" and "you've just linked to some statistics that show we can still afford rent".
When you misunderstood the situation, you insisted that I "own it" that I was wrong (when I wasn't). It would behoove you to do so yourself instead of pretending you understood the numbers all along.
* Edit: as an initial thought, I'd argue that the same argument often applies to the homeowner number—my wife and I jointly owning one house balances out you and your roommate.
I'm so terribly confused. How can you read this discussion and come to that conclusion? The whole point is that the number being quoted hides the truth.
Living arrangements have suddenly and dramatically shifted.
Man, those are wide age bands. Big difference from more 19 year olds living at home versus 34 year olds.
And flip that statistic, the percentage not living at home went from 80% to 68%.
Significant? Sure. Massive? Doesn’t seem like it.
And looking at home ownership rates for those under 35 years old, historically - its not that much lower, maybe a 10% relative drop.
So sure, fewer young people owning homes, but it’s <10% relative change. That doesn’t scream crisis to me. The vast majority of young people own homes similar to the past.
It's not comparing 18 year olds to 34 year olds, it's comparing the same age range in different time periods, so the size of the band is also irrelevant. Besides which, 18-34 is a standard range used all the time.
And it seems like you didn't even notice my last comment was your own words.
It is not. It's a ratio of homeowners in an age group to the number of renter households in that age group, which is kinda a useless statistic.
To explain why it's a bad metric take this real (but simplified) example. My roommate and I share a "household". Lets pretend that besides my roommate and I there is only one other person aged 30-34 in the US and they own a home.
The Homeownership Rates by Age of Householder chart would say 50%. 1 owner household / 2 total occupied households.
Now if you read that chart and take it to mean that there is only 1 homeowner and 1 renter, you would be misunderstanding what the statistics mean. There are more renters than homeowners in our example but the metric doesn't reflect that because it isn't meant to.