No, housing ownership is up. It was 44% in 1940, 66% in 1980, 64% in 1987, and an all time high 68% in the most recent data. NY may be the extreme, but low mortgage rates have encouraged virtually anyone who can buy to do so immediately.
Joel Blau Original Message: ----------------- From: Michael Perelman [EMAIL PROTECTED] Date: Wed, 18 May 2005 14:17:23 -0700 To: [email protected] Subject: Re: Surprise: Low-Wage Workers Can Barely Afford Rent I am not disputing the article, but I have trouble squaring the high ownership figures in the US with the high cost of housing. I know that some of the owners got theirs decades ago when prices were more affordable? Is ownership in decline? Does the rise of condos explain much of the trend? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu -------------------------------------------------------------------- mail2web - Check your email from the web at http://mail2web.com/ .
