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Renting the American Dream

Posted by: Nate Berg

18 August 2009 - 5:00am

Home ownership remains a major part of the American dream. But more and more people are beginning to question the wisdom of investing in a home and are leaning towards renting.

"Today more than two-thirds of Americans own their own homes. Among whites, more than 75% are homeowners today.

Yet the story of how the dream became a reality is not one of independence, self-sufficiency, and entrepreneurial pluck. It's not the story of the inexorable march of the free market. It's a different kind of American story, of government, financial regulation, and taxation.

We are a nation of homeowners and home-speculators because of Uncle Sam."

But the recent meltdown of the housing market is pushing more Americans towards renting as the smart choice.

Full Story: The New American Dream: Renting
Source: The Wall Street Journal, August 14, 2009
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