September 13, 2008

OWNERSHIP VS ATOMIZATION:

Homeownership Push Is Rethought: Both Candidates Weigh the Best Path To American Dream (NICK TIMIRAOS, September 12, 2008, Wall Street Journal)

The government takeover of Fannie Mae and Freddie Mac is forcing John McCain and Barack Obama to consider the proper fix for the companies' long-term structure. A key question in that effort: How aggressively should a new administration promote homeownership?

Most of the discussion from the candidates has been about how to stem rising foreclosure rates. Both tout homeownership as a central pillar of the American dream. But with many borrowers defaulting on loans and housing prices plummeting in some areas, both also are rethinking how best to achieve that goal.

"This is something the next administration will have to deal with: Are they going to be pushing people into homeownership?" said Dean Baker, co-director of the Center for Economic and Policy Research in Washington and a critic of the government's advocacy of homeownership.


"Progressive" hostility to home ownership derives from the same source as the effort to destroy marriage, the need of statists to keep people dependent on government. Liberating them is why Margaret Thatcher and W were the post pro-ownership pols of recent history. One wishes Maverick understood the stakes.

Posted by Orrin Judd at September 13, 2008 11:57 AM
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