Prometheus 6

While homeownership is often desirable as a means for accumulating wealth and obtaining secure housing, it will not always be a good mechanism for either.

It's going to be hard to break folks of fifty years of subsidized wealth accumulation.

The Subprime Meltdown and the Ownership Society
By Dean Baker
Saturday, April 7, 2007;

A huge percentage of the easy-money mortgages issued to low- and moderate-income families in the past few years are going bad. This has led to bankruptcies for the big lenders in this market and millions of dollars in losses. The chain of defaults has also raised concerns about the mortgage and housing market more generally, and a growing number of economists view a recession induced by a housing crash as a distinct possibility.