Home ownership is the West’s biggest economic-policy mistake
It is an obsession that undermines growth, fairness and public faith in capitalism
A trillion dollars of dud mortgages blew up the financial system in 2007-08.
But just as pernicious is the creeping dysfunction that housing has created over decades: vibrant cities without space to grow; ageing homeowners sitting in half-empty homes who are keen to protect their view; and a generation of young people who cannot easily afford to rent or buy and think capitalism has let them down.
As our special report this week explains
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