U.S. Homeownership Hits Decade Low
From a high of 73% in 2006-2007, the homeownership rate has dropped to 62% and falling. And back in 2006, 92% of Americans said their home was worth more than they paid for it. Now only 53% say that, and most of them are wrong.
1 comment:
Reducing the level of home ownership is a good thing.
The only rights that matter are property rights. ie, all human rights can be reduced to rights of property, beginning with the natural right of self-ownership.
But if a majority of people own property, then a majority of people have rights. And if a majority of people have rights, then the system becomes unworkable.
Only by turning America into a nation of renters dependent on property owners can capitalism work.
Because capitalism is great in theory, but most people aren't good enough for it.
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