Government Favors Homeownership
This article scared me and the reason it did is because of this statement, “During the housing boom, critics increasingly complained that the government devoted too many resources to homeownership and too few to more affordable options, such as renting. Now, during the bust, the government’s commitment to ownership has grown even larger, according to a new report from the Congressional Budget Office.”
Many people joke around with me or disagree with me that homeownership is a privilege and that is fine because it is just my opinion. However, thinking that everyone should own a home and really pushing for homeownership is part of what has gotten us in this mess. I see this on a micro level day in and day out, the government doesn’t. Even the CEO’s of some of these great banks can’t micro manage. They see everything on a macro level.
Listen, I’m not a pessimist and I hope I am wrong but I am just commenting on what I see day in and day out.