re: Why are homeownership rates precipitously declining?

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It takes an infinite amount of time for a house to be worth nothing (as in it won't happen) because the LAND VALUE is always going up even as the house deteriorates. I've made a lot of $ off of dumps because people wanted the lot to tear the house down and build a new house to sell for even more. Stop buying suburb houses, people! Those things don't appreciate and not as much of the value is in the LAND! Buy a small old house in the city in a desirable area with a 15 year loan, hold it a few years, do a few repairs, or nothing, and then sell it for a profit and buy a nicer, more desirable place and repeat.

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Hahaha....that's the most ridiculous thing I've ever heard. The problem with your thought process is that you assume everyone wants to be in the city? There will always be a group of people that prefer to be in the suburbs...or "country". Not only that but crime is usually higher in cities and schools are historically not as good. So...good luck raising your kids in inner cities and paying for high priced private school. Oh, and news flash....population will continue to increase thus the "suburbs" will one day become towns which will then become cities which include commercial real estate. This may take decades but it will happen so don't be so black and white in your assessments of property values.

In addition, the statement that suburb houses don't appreciate as fast is about as narrow minded as your statement regarding the land value of inner city property. Buying land within a city can go south as fast as it can go north.