This is not a surprise. The cost of housing is so high that those earning $250,000 a year or less or forced to pay rent and live in small dingy apartments instead of having equity in a home.
“The high cost of housing continued to weigh on homeownership rates in the second quarter in Santa Clara County, where an estimated 51.4 percent of people own their own home — one of the lowest rates in the country.
Among the country’s 75 biggest metro areas, four out of five with the lowest homeownership rates are located in California: Fresno, Los Angeles, Santa Clara County and San Francisco all reported homeownership rates of between 45 percent and 51.7 percent in the second quarter, according to new data from the U.S. Census Bureau.
Thanks to Democrat control of our economy, wages, housing, education, traffic, California has become a Third World State. Homeownership in California proves the point. Shame on us for allowing this.
Santa Clara County has had one of the lowest homeownership rates in the country for more than a decade.
By Luke Stange, Bix Journal, 7/26/19
The high cost of housing continued to weigh on homeownership rates in the second quarter in Santa Clara County, where an estimated 51.4 percent of people own their own home — one of the lowest rates in the country.
Among the country’s 75 biggest metro areas, four out of five with the lowest homeownership rates are located in California: Fresno, Los Angeles, Santa Clara County and San Francisco all reported homeownership rates of between 45 percent and 51.7 percent in the second quarter, according to new data from the U.S. Census Bureau.
On the flip side, roughly 77.5 percent of people in Toledo, Ohio, owned their own homes in the most recent quarter.
Santa Clara County has had one of the lowest homeownership rates in the country for more than a decade. As recently as late 2013, some 60.4 percent of people here were homeowners.
Statewide, just 53.2 percent of Californians are homeowners — the third-worst homeownership rate in the nation, behind New York and Washington, D.C. By comparison, 76 percent of people in New Hampshire are homeowners.
The housing market appears to be cooling slightly in Santa Clara County, where the median home sales price stood at $1.12 million in May, a year-over-year decline of 6 percent, according to data from CoreLogic.
Real estate agents sold 1,744 homes in Santa Clara County in May, about 215 fewer homes than they sold during the same time period last year.
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