So like if you have 2 houses in a neighborhood, both owned by Bourgeois Bobby and he lives in one and rents the neighboring one to a group of 4 roommates, that's a 50% home ownership rate

Ah yes okay, so a 60% home ownership rate is a lie. The right way to calculate this situation would be a 20% home ownership rate, not 50%, as 1 in 5 people owns the home they live in.

Being deliberately miscalculated to tell a lie does explain why that number feels like bullshit.