Today more than two-thirds of Americans own their own homes. Among whites, more than 75% are homeowners today.
Yet the story of how the dream became a reality is not one of independence, self-sufficiency, and entrepreneurial pluck. It’s not the story of the inexorable march of the free market. It’s a different kind of American story, of government, financial regulation, and taxation.
We are a nation of homeowners and home-speculators because of Uncle Sam.
A great analysis of the interplay between home ownership and politics.
I have the suspicion that one day, the American Dream of home ownership will be an example of the kind of policy that can only be sustained in a country by the rising tides that come with being the most dynamic economy in the world. I fear that we will bear the burden of the entitlement programs those years left behind long after the party is over.
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