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The Advantages of Renting

By Jonathan Simor

Check out the very interesting interview between Scott Simon and Canadian professor and author Richard Florida this morning about the role of home ownership in the US economy in recent history and the possible return of renting as the most economically advantageous mode of housing tenure in the future. As Scott points owning a home has been held out not only as the epitome of the "American dream", but also a social policy that leads to positive social outcomes like more personal responsibility and connection to neighborhoods. That policy, fueled since the New Deal by the mortgage interest tax deduction, and in recent years by policy choices of the Fed and possibly Fannie and Freddie, now lies at the heart of the economic crises we are facing...continue to full post

Full post as published by Governing Through Crime on February 21, 2009 (boomark / email).