Wednesday, February 03, 2010

"The American Dream Slips Away"

That's the CNN chyron regarding Census report saying that the home ownership rate is back down to 2000 levels. That's really stupid. First, 2000 was...all of 9 years ago. Second, one thing we should learn from the housing bubble is that some people really shouldn't own homes. For plenty of people it doesn't make financial sense, relative to renting, and for some people the added responsibility is too much of a burden.

Nothing against people owning homes, but we shouldn't think that a perpetually increasing home ownership rate is a good thing.