Several generations of Americans have seen homeownership as a birthright and a necessity. We take it for granted that owning your home is a good thing. It goes along with higher incomes; it causes people to be more diligent, hard-working and productive; it leads to stable families, stable communities, and higher levels of happiness and well-being.
Homeownership certainly contributed significantly to the golden era of American prosperity that began after World War II and continued into the 1990s, fueling demand for the cars and appliances that were rolling off assembly lines. But the foundation of our economy no longer lies ...
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