Millennial Homeownership Growth and Spillover

Millennial homeownership in Bay Area grew 88% since 2019, but still only 37.6% own. Spillover to Stockton (117.6%), Oxnard, Fresno. SF out-migration reversed since mid-2024. Income needed to be 'rich' in San Jose $878K, SF/Oakland $782K. Pandemic exodus reversal confirmed. Lathrop emerges as spillover destination with master-planned communities and ACE train access.