The Homeownership Obsession
As a society, we overinvest in real estate.
We build (and buy) too many extra-big homes and strive to make almost everyone into a buyer.
Robert J. Samuelson, July 26 2008
I’m almost 75. If I haven’t yet said what’s on my mind, I never will.
So far as I can tell, nothing that I have written has ever had the slightest effect on what actually happened. But I’m resigned to this. No one elected me to anything. In our system, the people rule, not the pundits; and that’s how it should be.
The truly big economic story of the past half-century has been the rise and fall of “macroeconomics.” This is economists’ fancy term for using interest rates, taxes and government spending to regulate the economy’s growth and stability. This once seemed doable. Now, less so.
Robert J. Samuelson Washington Post