Thursday, September 23, 2010

Mort Zuckerman:"home ownership has turned into a nightmare "

The death of an American dream for the middle class!

Why has housing been such a core element in the story of American civilization?

Culturally a decent house has been a symbol of middle-class family life. Practically, it has been a secure shelter for the children, along with access to a good free education. Financially it has been regarded as a safe store of value, a shield against the vagaries of the economy, and a long-term retirement asset. Indeed, for decades, a house has been the largest asset on the balance sheet of the average American family.....

These days the American dream of home ownership has turned into a nightmare for millions of families....

Click on the title for a link to the entire article.