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Title: California Homeownership in 2030 and Beyond: Demographic Change and the "Lost Generations" of Homeowners

Citation Type: Miscellaneous

Publication Year: 2017

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Abstract: The homeownership rate in California has trailed the rest of the U.S. by about 10 percentage points for decades. Detailed demographic projections suggest the “California homeownership gap” is likely to remain stable until at least 2030, even as homeownership rates drift down in California and nationwide. The changing racial and ethnic mix of the California population will reduce the gap, as will the entry of young families into homeownership that were not affected by the housing crisis. A factor working in the opposite direction is the eventual replacement of older California homeowners with high homeownership rates by current baby boomers and members of Generations X and Y, who suffered large declines in homeownership during the crisis. To mitigate the long-run decline in California homeownership, families hit hard by the housing crisis require balance sheet repair. Housing supply-side reforms that make housing more affordable also could help

Url: http://www.centralvalleybusinesstimes.com/links/Journal_Homeownership_2017.pdf#page=20

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Authors: Emmons, William, R; Ricketts, Lowell, R

Publisher: Center for California Real Estate

Data Collections: IPUMS USA

Topics: Housing and Segregation

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