Is this one more reason to rent?
See some of my other posts:The conventional wisdom says homeownership is a growth spur. This was especially the case in the fordist mass production economy, where long-term employment was the rule for many and home-buying prompted purchases of automobiles, appliances and consumer durables.
Now, maybe not so much. That is, according to new analysis by Joe Cortright which suggests that homeownership may actually dampen economic performance in this highly mobile creative age.
More here.
1 comment:
Like any large purchase and committment, home buying is a complex decision and there is no right or best way for everyone.
For some home ownership will work great. For others it's not the best approach.
However, there can be no doubt that home ownership has been a major factor in building up the American economy over the past 230+ years. Then there is the fact that home ownership gives real meaning to most people of the term property rights. I would venture to say that home ownership has done more to ingrain in people the concept of private property than anything else (even though of course this concept is not limited to real estate).
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