Lowest Percentage of Homeowners Since 1995.Submitted by EmpireBuilder on Wed, 05/01/2013 - 22:23
I heard on the radio this morning that the percentage of U.S. homeowners has dropped to the lowest level since 1995. Not sure if that is correct, but it sounds believable. It took me a good number of minutes to quit laughing. It was seriously the funniest thing I have heard this week.
The Government made it one of its main objectives since early in the Bush administration to "put every American in a home". I was just getting into politics at the time, but remember Bush pushing this during one of his early State of the Union Addresses. This goal dated into the Clinton years too. At least 3 Presidents and the majority of Congress pushed this. How many billions and trillions of dollars have we put behind this effort or lost in its wake? How many Government programs and threats towards banks were used to push this objective? Over ten years later and what do we have to show for it? A decrease in home ownership! Ha!
Not that this is a surprise to anyone here, but it should be a clear cut example of how interventionism does not always(or ever) work out as planned. I was also surprised about how the whole situation played itself out in a "short period of time". Maybe this is just a sign of my increasing age, though. Compared to foreign policy or many other economic situations, this has been a fairly speedy example; and easy to follow. It should be possible for the Interveners and their supporters to connect the dots on this one.
I always get riled up over people(voters and supporters)excepting blame for their actions or at least understanding what they have done. Even at this late date it would be welcome. It never comes, though. Have the supporters of the minimum wage taken credit for some amount of unemployment yet? Have the Bush supporters taken credit for their portion of the national debt yet; or increase in government? How about the Obama supporters and their share of dead innocents overseas? I suppose I should not hold my breath on any admissions when it comes to the housing debacle.