re: Why are homeownership rates precipitously declining?

I make around 50k a year. I can either rent a nice place with a bad location, a meh place with a great location, or get the worst of both worlds and buy a crappy place in a shitty location.

The idea that I can properly invest in my future, have an active social life, and still afford a mortgage payment/upkeep on a house is laughable in today's day and age.