Why Promoting Home Ownership May Not be a Great Idea

Blog, Les Routledge (historic), Rural, Uncategorized

Interesting article over at the Daily Yonder about why Nebraska cannot convince people to move from high unemployment areas to areas of labor shortages.

The next challenge many of these families faced was owning a home in a market in which, well, the market no longer exists.  If they had managed to hold on to their house, they knew there was no way to sell it and they clearly could not afford just to leave it behind and start paying rent, much less a second mortgage. Job or no job, they weren’t going to leave their unsold, and unsellable, houses.