"The article suggests that California's low homeownership rate may be improved by focusing more on building single-family homes instead of a high number of rental units."
"It highlights the correlation between residential construction types and homeownership rates, indicating that states with more single-family homes tend to have higher ownership."
California's low homeownership rate has persisted over decades, only recently standing at about 55% compared to the national average of 69%. The article argues that the state should reconsider its housing policies, noting a pattern where states with high homeownership rates also prioritize single-family housing. A high offering of rental properties can discourage home purchasing. With California's ownership rates stagnating since 1988, the article suggests a potential shift in focus from promoting homeownership to also valuing long-term renting as a viable option.
Read at www.ocregister.com
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