USA Housing Policy Tilts Toward Renting

This does not mean our goal is for all Americans to be homeowners.

The government “must help to ensure that all Americans have access to quality housing that they can afford,” the report said. “This does not mean our goal is for all Americans to be homeowners.” The New York Times

This is an interesting change of direction for the USA.  In addition to reducing financing subsidies that encourage home ownership, I wonder if they will level the taxation between renting and owning?

Public policies that encouraging excessively high levels of home ownership can be problematic both for the individual and the economy.  From an individual perspective, renting is often the more appropriate alternative if the person moves frequently to pursue work or education opportunities.  For the economy, high levels of home ownership reduces labour mobility and creates a situation that leads to high unemployment in some regions and unfilled jobs in others.

The Obama administration appears to be headed in a positive direction with this policy proposal.

Featured News

Transformers: More than Meets the Eye

The path to net zero, based on the much disputed belief that carbon dioxide is a pollution, is more steep and impractical than most people realize. Replacing fossil fuels with clean electricity will require much more power generation and a greatly upgraded grid to...


Downside of Calgary Downtown Residential Conversions?

Downside of Calgary Downtown Residential Conversions?

The Calgary Herald reports that some office tenants are being forced out of their buildings in the city of Calgary’s program to convert office buildings to residential uses. We had covered this program recently, noting that “that the City has adopted an aggressive...

Green Kills

Green Kills

  A friend of mine is building four high-rise condo and rental towers in Victoria, the capital city of British Columbia, where I live. It is a charming city, founded in the 1840s, its core an almost classic English village around which a modern city was slowly...