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Wisconsin IDEA
Insight • Data • Economics • Analysis
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The Elusive American Dream: Homeownership Trends in Wisconsin
Noticeable Decline in Homeownership for Those Aged 55 to 64 over 20-year Period
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Unlike many other countries, owning one’s home is part of the American Dream. Between 1965 and 2023 the average rate of homeownership was 65.3% with a low of 62.9% in 1965 to a peak of 69.2% in the latter half of 2004. This high point in 2004 is also the high point for Wisconsin homeownership rates at 73.3%. Record high housing prices, coupled with historically high mortgage rates, and lingering shortages in the supply of housing (both for purchase and rent) have created challenges for those seeking to own their own home.
While overall Wisconsin home ownership rates have ebbed and flowed largely as the larger economy has ebbed and flowed, looking at homeownership rates by age over time paints a telling story. Using Wisconsin Census data from 2000, 2010, and 2022 two clear patterns emerge. First, there is an inverted U-shape pattern between age and homeownership with the lowest rates at the youngest (age 25-34) and oldest (85 and over) and the peak being age 55 through 74. The lower rate at younger ages makes sense: people are still saving for downpayments and may still prefer to be mobile in terms of opportunities. For the older age (85+) many may be electing to reside in assisted living facilities or with their grown children.
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Econ Quiz: Women’s Highest Paying Jobs
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Women have made significant strides toward equitable representation in the highest paying occupations in the United States. According to a recent publication by Pew Research Center, in 2021, the most recent year for which data is available, 35% of jobs in the ten highest paying occupations were held by women as compared to only 13% in 1980. In 2021, women were 40% of practicing lawyers (14% in 1980), 26% of actuaries (25% in 1980), and 29% of chief executives and public administrators (data not available for 1980).
While women have made some progress in traditional science and engineering occupations, there are still large gaps. In 2021, women were 24% of physicists and astronomers (6% in 1980), 7% of airline pilots and navigators (2% in 1980), 8% of petroleum, mining and geology engineers (5% in 1980), and 7% of sales engineers (4% in 1980). This a perplexing gap. Science and engineering require similar skills and knowledge as high paying medical fields, and it not clear why women are still vastly under-represented in science and engineering but rapidly advancing toward equal representation, or majority representation, in high paying health care occupations but not science and engineering.
Women have blazed the biggest trails toward gender equality in high paying healthcare occupations. In 2021, women were 33% of dentists (7% in 1980) and 38% of physicians (13% in 1980). Among the highest paying occupations, women have made the greatest advance in employment as pharmacists. In 1980, 24% of pharmacists were women. What proportion of pharmacist jobs were held by women in 2021?
A. 42%
B. 99%
C. 15%
D. 61%
E. 53%
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Join us in Platteville for Wisconsin’s FIRST Connecting Entrepreneurial Communities Conference. Gathering economic developers, municipal leaders, and entrepreneurs, the CEC Conference is a statewide conversation about supporting entrepreneurship in rural Wisconsin. Come to the Driftless Region for presentations and tours to learn how to build an entrepreneurial ecosystem in your own community! The summit is filling up fast, and we have limited space. Register now to reserve your spot!
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INTRODUCTION
Every five years the United States Department of Agriculture (USDA) undertakes a detailed inventory of farming operations across the country. The most recent, the 2022 Census of Agriculture, aims to provide a detailed snapshot of the nation’s farming economy, including information on farm demographics, production practices, land use, and economic trends. The intent of this issue of WIndicator is to provide an overview of recent trends in Wisconsin farming using the Census of Agriculture. We pay particular attention to the changes since the last Census in 2017 to understand trends in key metrics for Wisconsin agriculture with some references to longer term trends (1997 to 2022).
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INTRODUCTION
There are a number of factors feeding into the current labor shortage, and while the problem seemed to accelerate after the COVID-19 pandemic, we have been facing a downward trend in unemployment for over a decade. Some of the biggest shifts driving the current labor shortage are demographic, as baby boomers enter retirement and fertility rates have remained low since the 1970’s, leaving fewer prime-age (25-54) workers to fill jobs. These generational factors create a long-term structural challenge to growing the labor force. Some may consider automation as a tool to reduce labor demand, but more often, it merely shifts the types of skills required for a job or even increases overall employment needs (Nunes, 2021, Tschang et al. 2021).
Another pathway to expanding the labor force is to support audiences with barriers to employment such as justice-involved individuals, people with disabilities, and parents, especially mothers, with young children. Childcare access is a key barrier to employment for many women, which can affect the overall availability of labor. Improving childcare access can increase women’s labor force participation while simultaneously providing a long-term investment in education for future generations (Conroy, 2019).
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Getting Ready for BEAD Funding: Permitting, Engagement, and Learning from Experience
Join us for a broadband regional workshop on Getting Ready for BEAD Funding: Permitting, Engagement, and Learning from Experience. We will hold nine workshops in convenient locations across the state. This event focuses on equipping attendees with the essential knowledge and tools required to successfully navigate the complexities of broadband expansion. This event is ideal for elected officials, community leaders, and volunteer committee members involved in broadband expansion efforts, as well as organizations supporting broadband planning and permitting authorities. Register today to secure your spot!
The nine regional workshops will be held:
- April 25, Portage County Annex in Stevens Point
- May 1, Flat Creek Lodge in Hayward
- May 14, CESA 10 Offices in Chippewa Falls
- May 22, Northcentral Technical College in Antigo
- May 29, Fireman’s Park Pavilion in Waterloo
Registration for each session is $25 and covers lunch, refreshments and materials. public.
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2024 Wisconsin Rural Economic Summit
Using the latest research and data specific to Wisconsin’s rural communities and regions, this summit focuses on the Wisconsin rural economy. The summit includes an overview of the latest economic and demographic trends across rural communities, and an examination of rural health care, housing, and broadband. Conversations will include what rural communities can do to foster economic growth and development.
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(Ashland Daily Press - 4/1/2024)
(WSAW-TV - 3/27/2024)
(The Daily Cardinal - 3/21/2024)
(Wisconsin Public Radio - 3/1/2024)
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Equal Employment Opportunity & Affirmative Action Statements
An EEO/AA employer, the University of Wisconsin-Madison Division of Extension provides equal opportunities in employment and programming, including Title VI, Title IX, the Americans with Disabilities Act (ADA) and Section 504 of the Rehabilitation Act requirements. Please make requests for reasonable accommodations to ensure equal access to our educational programs as early as possible preceding the scheduled program, service, or activity.
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