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And when you are retired and can't afford rent increases move to third world country and live on potatoes Bloomberg.. Housing ownership is tied with a healthy

by ArtDev 12y ago

And when you are retired and can't afford rent increases move to third world country and live on potatoes Bloomberg.. Housing ownership is tied with a healthy middle class and healthy economy. If we banned predatory lending, you would know you couldn't afford it because no one would approve your 30-year fixed-rate loan!

malandrew 12y ago
Counter-example: Spain has a very high rate of home ownership and its economy isn't doing so well. The truth is that we don't have enough data points to conclusively state that home ownership is tied with a healthy middle class and healthy economy. A healthy middle class and healthy economic are more dependent on housing affordability regardless of whether or not that affordability involves renting or buying. If I were a government, I would optimize for how much people are spending on housing as a percentage of their income. The number one source of income we should try to keep in check in society is income from economic rent in all its forms.