"iBuyers" are gearing up to grow massively in the coming years, with unforeseen consequences for the U.S. housing market.
    • Yun [he/him]
      ·
      3 years ago

      In 2017, 70% of Chinese millennials owned their own home vs 35% in the US

        • keepcarrot [she/her]
          ·
          3 years ago

          I know in Australia it's about 1/3 rent, 1/3 own outright, and 1/3 have a mortgage, but I imagine those numbers change massively depending on generation. The people closest to home ownership I know personally tend to be people with stable government jobs. 30 y/o bartenders and stuff are nowhere near owning.

      • infuziSporg [e/em/eir]
        ·
        3 years ago

        There's been a lot of emphasis on policies that help people become homeowners, usually by extending more credit. They know that "owning" a house will make people more conservative, even though only 11-12% of Americans own their homes outright without a mortgage. Another 54% have a mortgage for their house, a majority on its own.

    • ancom20 [none/use name]
      ·
      3 years ago

      Apparently China also does not have annual property taxes either. https://supchina.com/2018/03/07/property-tax-china-2019/