Ah, but what about the very small percentage of the American population who happen not to be upper middle class. Easy to forget them I knowhttps://twitter.com/asymmetricinfo/status/1468343020793876481 …
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Also how does that number look generationally
Well, it was 65% in 1960 and it is 64% now, though it got all the way up to 69% in the early aughts and all the way down to 63% in 2016, so there is long-term stability in the statistic, but you are right to note that millennials trail older generations in home buying.
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In terms of home value, the issue frankly is that housing values are too high, not too low. That's part of what is keeping millennials out of home-buying and why I think we need policies that lead to building a lot more houses, even if it means that per-unit values stagnate.
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Nevertheless, it is just statistically true that even among the younger generations, actually owning a house on both a per-unit and per-square-foot basis is more affordable in the United States than in most - nearly all - countries.
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