Friday, Aug 27, 2010
The case against homeownership
Time.com CNN: From across the pond
Homeownership has let us down. For generations, Americans believed that owning a home was an axiomatic good. Our political leaders hammered home the point. Franklin Roosevelt held that a country of homeowners was "unconquerable." Homeownership could even, in the words of George H.W. Bush's Secretary of Housing and Urban Development (HUD), Jack Kemp, "save babies, save children, save families and save America."
Posted by debtfree @ 05:34 PM (496 views) Add Comment
6 Comments
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1. i remember the 90`s said...
Its not owning your home that`s gone wrong ,its uses them as a cash machine.imo
2. mark wadsworth said...
There's absolutely nothing wrong with being a homeowner. The problem is with Home-Owner-Ism.
3. Crunchy said...
2. mark wadsworth said...There's absolutely nothing wrong with being a homeowner. The problem is with Home-Owner-Ism.
Wadswort, is a boring Wanka-Ist.
4. This comment has been removed as it was found to be in breach of our Blog Policies.
5. Rex Burr said...
At the age of 25 you marry and buy a house with a 25 year mortgage.
At the age of 50 you own the house and live in it rent free for the next 25 or more years.
What's wrong with that?
It will require that a government sits heavily on land and property speculators to ensure that a basic income can service the mortgage on a basic house over a 25 year period, but, what's wrong with that?
6. Rex Burr said...
Just an additional thought.
I did what I posted in the previous comment except that I paid the mortgage off in 17 years and I am now only 70.
It is worth 25 times the number of pounds that I paid for it but that is of no consequence to me. I never think about it.