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Monday, March 21, 2011

Housing Bust Exposes Real-Estate Hype


“Tax breaks, equity growth and the sanctity of the American dream — the real estate community has made a pretty compelling case over the years for the merits of purchasing property versus throwing your money away on rent. But as the housing market redefines itself in the wake of the subprime mortgage crisis and the ensuing industry recession, a number of economists who follow the industry suggest the benefit of buying no longer applies. Others say it never did.” (USA Today)

Leave it to government to sell people an unsustainable dream.

FEE Timely Classic
“The Free Market Is Failing? It Just Ain’t So!” by Steven Horwitz