RENT IS THEFT:

Survey Finds Expansion of Housing in the U.S. (SAM ROBERTS, 10/07/08, NY Times)

Housing costs consumed 24 percent of income over all. Those costs were 13 percent for owners without a mortgage, 28 percent for co-op residents with a mortgage and 33 percent for renters. [...]

The median size of all single, detached and manufactured or mobile homes rose slightly since 2005, to 1,769 square feet (and to 2,304 for homes built in the previous four years). The median amount of space per person also increased, to 769 square feet.

Rather than encouraging adjustable rate loans we should have just assumed the interest payments ourselves.

Posted by Orrin Judd at October 7, 2008 5:21 PM