Home sweet home, until it isn’t
Christian Science Monitor
by staff
04/06/07
Poof! That’s the American dream of homeownership vanishing for those unable to pay their mortgages — leading one major mortgage lender to declare bankruptcy this week. Perhaps Americans need to rethink the merits of this dream. The US rate of homeownership is at a historic high — 69 percent. But there’s no rule that says ‘countries prosper when ‘x’ percent of people own homes.’ Some developed nations have high homeowner rates (Singapore, 91 percent; Spain, 83 percent; Ireland, 77 percent). Others have lower ones (Switzerland, 35 percent; Germany, 43 percent; Denmark, 53 percent). The Declaration of Independence singles out ‘life, liberty, and the pursuit of happiness,’ but the Founding Fathers often spoke of life, liberty, and property...
http://www.csmonitor.com/2007/0406/p08s01-comv.html
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=mortgage
by staff
04/06/07
Poof! That’s the American dream of homeownership vanishing for those unable to pay their mortgages — leading one major mortgage lender to declare bankruptcy this week. Perhaps Americans need to rethink the merits of this dream. The US rate of homeownership is at a historic high — 69 percent. But there’s no rule that says ‘countries prosper when ‘x’ percent of people own homes.’ Some developed nations have high homeowner rates (Singapore, 91 percent; Spain, 83 percent; Ireland, 77 percent). Others have lower ones (Switzerland, 35 percent; Germany, 43 percent; Denmark, 53 percent). The Declaration of Independence singles out ‘life, liberty, and the pursuit of happiness,’ but the Founding Fathers often spoke of life, liberty, and property...
http://www.csmonitor.com/2007/0406/p08s01-comv.html
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=mortgage
rudkla - 9. Apr, 18:15
