The real economics of homeownership

Book Review: 'Houseonomics'

Last week, I read a New York Times article that gave me pause. The premise was that many of the penny-pinching and belt-tightening measures Americans have implemented would stick around for a generation. The quote that caught my eye in particular was from a young, single female attorney, who expressed that the mortgage/housing/foreclosure crisis had changed her opinion that homeownership was an inherently valuable experience. She said that now she was OK with being a lifelong renter.

As a real estate broker, that comment was like a blow to my solar plexus.