"Rethinking rent; Maybe we should stop trying to be a nation of homeowners" by Rebecca Tuhus-Dubrow | March 22, 2009
IN THE SOUL-SEARCHING sparked by the financial meltdown, Americans have started to look askance at some of the habits and policies that had come to define our country. Excessive consumption and living on credit are no longer seen as acceptable, let alone possible. "Deregulation" is suddenly a dirty word.
Unless you are a bank getting billions in taxpayer dollars.
Yet despite the housing crisis, one value, more deeply entrenched, remains sacrosanct: homeownership. Irresponsible mortgages have been universally condemned, but it is still widely assumed that we all aspire to own homes - and that we all should aspire to own homes. Homeowners are thought to be more engaged in their communities and to take better care of their houses and neighborhoods. On a nearly subconscious level, buying a home is a central part of the American dream. A picket fence may now be dispensable, but a house of one's own is seen as the proper place to raise an American family - a prerequisite for stability, security, and adult life. And for decades - but increasingly under the Clinton and Bush administrations - federal policies have encouraged citizens to achieve this goal.
But a growing chorus of economists and housing experts say that this mind-set, too, needs fundamental reform. Owning a home is not right for everyone, they say: In some ways it's overrated, and it can even have harmful effects for individuals and society.
Translation: Only the wealthy should own property. These guys want a return to a feudal state with the added bonus of internal tyranny.
It is now glaringly clear that buying a home is a financial risk, not the surefire investment it is often perceived to be. Widespread homeownership may also have a negative impact on the economy, because, among other reasons, displaced workers can't easily relocate to new jobs.
Aren't the same folks pushing this idea the same ones who devised this whole economy? And now they are saying we can keep ours and you can't have yours? Why didn't they just PAY OFF EVERY MORTGAGE in THIS NATION instead of TOSSING MONEY into BANKERS' POCKETS for "loaning?" I've said it before, and I'll say it again: This "bailout" is the GREATEST LOOTING JOB in the HISTORY of the WORLD!!!!!!!!!
And some of the alleged rewards of homeownership, such as greater self-esteem, health, and civic engagement, have been called into question by research.
Really? WHAT RESEARCH, and BY WHOM?
The government, critics argue, should focus on ensuring high-quality, affordable housing rather than promoting homeownership for its own sake.
"There's no reason we should all be homeowners," says Joseph Gyourko, a professor at the Wharton School of Business and coauthor of "Rethinking Federal Housing Policy." "Homeownership has a lot of benefits, but it has costs, too."
There's your agenda, folks. YOUwill MAKE DUE with LESS so the RICH can have EVEN MORE!!!!!!!!!!
According to this view, renting offers many advantages, and should be considered a viable long-term option for people of all ages and socioeconomic levels.....
Then I look forward to the richers moving out of their palaces.
Related: The Boston Globe's Stupid Ideas: Investing at Birth
The Boston Globe's Stupid Ideas: Shutting Down Free Speech
The Boston Globe's Stupid Ideas: White Man's Burden
The Boston Globe's Stupid Ideas: AmeriKa's Islamic Army
The Boston Globe's Stupid Ideas: Nuclear Disarmament
The Boston Globe's Stupid Ideas: Slum Cities
