The 'American Dream' Gets a Rewrite

A new survey has revealed that the housing bust has taken a toll on the fabled "American Dream," with the majority of respondents asserting that policies should be directed "to encourage rentals equally as much as home purchases."
April 4, 2013, 11am PDT | Jonathan Nettler | @nettsj
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E. Scott Reckard looks at the results of the MacArthur Foundation's "How Housing Matters" survey, which was released this week. "After decades of equating homeownership with the American Dream, post-housing crisis realism about the risks and rewards of owning a home have led to greater support for rental housing and a more balanced approach in national housing policy," say the report's authors.

“'Many of the positive attributes that have long been associated with homeownership are fading,' said Peter D. Hart of Hart Research Associates, which conducted the survey for the MacArthur Foundation."

“And on the flip side of the coin, it is remarkable that nearly half of all homeowners can picture themselves one day becoming a renter.”

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Published on Wednesday, April 3, 2013 in Los Angeles Times
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