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...

//www.csmonitor.com/2007/0406/p08s01-comv.html


Informant: Thomas L. Knapp



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