The prediction of death to the American dream of owning a home is replaced by a new landscape of technological and scientific prosperity as seen by writer Richard Florida in his article “How the crash will reshape America”.
The purpose of policy is to produce certain results, but, frequently, once in place, changes in policies are resisted even when conditions require them. Take two examples that have become more obvious in recent days, one with respect to health care, another to housing and home ownership.
Richard Floridais quick to distinguish between good gentrification and bad in discussing the city of Brooklyn and its hipness.
Homeownership has been a central tenet of a ‘richer and fuller life’ in the USA, but foreclosures are severely testing this model. A possible solution: Rent these homes as a first step toward a more affordable, flexible housing system.
Renting has seldom looked so good as now, as homeownership is increasingly associated with instability and fear.
In The Atlantic, economist Richard Florida takes a long view of the world economy. He says that long depressions are opportunities for the economy to reset itself. During these hard times, large numbers of people change their economic lives, taking the country into a new economic era.
Lately some have been advocating that the government stop subsidizing home ownership, arguing that it locks people to a place, and when the economy goes sour people need the flexibility to go where the jobs are.
Richard Florida, in The Atlantic Monthly article argues that the key to recovery from the housing bubble and financial crash is to remove homeownership “from its long-privileged place at the center of the U.S. economy.”