Trump Calls a Bottom in Homeownership Rate
Trump just won the real estate agent/mortgage broker/home builder vote with the following tweet this morning:
As is customary with Trump there are no specifics in how he plans to reverse this powerful downtrend in the U.S. homeownership rate. However, if there’s one promise he can deliver on it’s probably this one given that the man has spent his life amassing a fortune in real estate.
Much has been made about this chart of the homeownership rate and while the trend for the last 12 years couldn’t be more clear, the scale of the y-axis on this graph should be noted; this chart makes a 62.9% homeownership appear as if it is close to zero. As we pointed out earlier in the week some mean reversion in homeownership and rental rates appears imminent, however, the situation is no where near as extreme as this chart might lead one to believe.
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