Drumbeat intensifies against home subsidies

Finance Professor Viral V. Acharya of NYU's Stern School of Business

An op-ed piece in the New York Times this week drew a tweet from a broker friend of mine saying that the authors’ points were “inane.”

Even as a dedicated social and economic liberal, never mind real estate broker, I have to disagree with him.  In earlier posts, I have confessed to finding myself in the uncomfortable position of questioning why the American Dream has to consist of homeownership.

A roof over heads is a roof, whether owned or rented.  Shelter is shelter.

Since the contention that home ownership stabilizes neighborhoods has yet to be proved, what are the other justifications for homeownership?

Try to enumerate the advantages of homeownership, and I’ll bet Continue reading