Things Fall Apart: Virginia Homeownership Rate

From an email from attributed to RubyHome Luxury Real Estate:

Virginia experienced the largest decline in homeownership of any state during the new millennium. In 2000, the homeownership rate sat at 73.9%; it declined to 67.4% in 2022. This makes for a percentage-point change of 8.8% since 2000 in 2020 — the most of any state. “With the average state decline sitting at 1.3%, Virginia’s dwindling rate of homeownership is the most drastic nationwide,” states the email.

Virginia has a home-ownership problem, which is intimately connected to the home affordability problem. What’s next — tent cities? appears to be a marketing firm that generates links for clients by conducting all manner of state rankings, blasting out emails to blogs and other media, and crediting their client. There does not appear to be any serious research behind this particular ranking. But that does not invalidate the finding.