Will it be an Orwellian future, a new world Venezuela or do we have any real chance of a real utopian future?
1) Home-ownership does not equal embracing the status quo. Ask a renter if they feel any more financially secure. Going on strike has everything to do with your union and almost nothing to do with your mortgage. At least with a mortgage, half my "rent" comes back to me. 2) Home ownership is cultural: the percentage is just as high in UK, Ireland, Canada - even higher in Norway than in the US!
#http://en.wikipedia.org/wiki/Homeownership_in_the_United_Sta... 3) Home ownership has (historically) been the best way to build wealth. It is the only time in most people's life they're extended more than $100K of credit. In light of recent events, this might not seem as wise as in the past. Even so, the reasons for home-ownership (especially in the US) make not buying your home almost foolish.
#http://homebuying.about.com/od/buyingahome/bb/buyhome.htm# 4) Home-ownership is the most secure investment you can make. Aside from the historical average (which is more stable than almost any investment you an make) name another investment whose value you can directly change as easily as a coat of paint! While some many can claim they were burned in the recent housing crash, many of those were either poorly qualified for loans or had invested in "bubble" properties (or both!) While banks had a large role to play in this, everyone (including buyers) had their hands out.
- While some many can claim they were burned in the recent housing crash, many of those were either poorly qualified for loans or had invested in "bubble" properties (or both!) While banks had a large role to play in this, everyone (including buyers) had their hands out.