Quote:
Originally Posted by FlamesAddiction
I don't really consider someone "owning" their home when they have a huge mortgage that they may never pay off.
We'll see what that number is once the recession catches up, which to be fair, the source you posted makes that point as well.
It also explains that this number is largely due to a demographic shift where "baby boomers" makes up a disproportionate percentage of the population. The ratio of 45-65 year olds, as compared to the 20-40 year olds, has never been more skewed.
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If you're renting, you're not gaining equity.
If you own, you are most likely gaining equity, the burp of the last year or so aside.
Historically, owning has always been better than renting.
I don't see your point.
Secondly, as the boomer generation dies off, homes are likely to be transitioned to the next generation, if they are indeed as homeless as they are currently claiming.
Cowperson