Homeownership beats working for a living—literally.
If you’ve been following news about the housing market this may not come as a surprise. But it does provide an irresistible one-line summary of the state of American society in 2021: the vital importance of housing wealth, the triumph of capital over labor, the pervasive sense of declining social mobility, the extent to which certain parts of the country have become de facto gated communities. In San Diego, for example, home values jumped by an average oflast year. You read that right.
And it wasn’t just California, though of course the Homeowner Republic led the way in home price growth last year. Owning a home also paid more than working in other Western metros like Portland, Denver, and Boise; Sun Belt cities like Dallas, Tampa, and Charlotte; and Northeastern metropolises like Boston and New York.
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