> I believe the problem is airbnb, mega-corporations/banks buying up and renting out homes, homes that sit empty trying to get exorbitant rental rates, vacation homes and non-homestead homes that sit empty...
The number of owner-occupied housing units in the USA has gone from 70m in 2001 to 86m today [1]. The number of total housing units has gone from 118m to 145m over the same period [2]. 70/118 is 59.3%. 86/145 is ... also 59.3%!
I agree that it feels counterintuitive. I share the sense that there are more entities playing landlord than there used to be, but it doesn't seem to be borne out in data. A possible contributing factor is that AirBNBs are more prevalent in the cities that attract visitors, for free market reasons.
IMO an underrated part of the US housing crisis (in addition to construction's failure to keep up with population growth, which I think is most of the story) is the fact that the fraction of households consisting of only one person more than doubled from 1960 to 2020, from 13% to 27% [3]. That same article notes that 25% of LA households consist of one person.
The number of owner-occupied housing units in the USA has gone from 70m in 2001 to 86m today [1]. The number of total housing units has gone from 118m to 145m over the same period [2]. 70/118 is 59.3%. 86/145 is ... also 59.3%!
I agree that it feels counterintuitive. I share the sense that there are more entities playing landlord than there used to be, but it doesn't seem to be borne out in data. A possible contributing factor is that AirBNBs are more prevalent in the cities that attract visitors, for free market reasons.
IMO an underrated part of the US housing crisis (in addition to construction's failure to keep up with population growth, which I think is most of the story) is the fact that the fraction of households consisting of only one person more than doubled from 1960 to 2020, from 13% to 27% [3]. That same article notes that 25% of LA households consist of one person.
[1] https://fred.stlouisfed.org/series/EOWNOCCUSQ176N
[2] https://fred.stlouisfed.org/series/ETOTALUSQ176N
[3] https://www.census.gov/library/stories/2023/06/more-than-a-q...