Monday, May 9, 2011

Home Ownership as a Virtue

Recognizing that this video has been viewed one million times many of you have already seen it, I'm a little late to the game. Nevertheless, it is a remarkable video from RSA and David Harvey - click here

One of the points made in this video is especially relevant to one of the themes of this blog. He mentions, briefly, the percent of home ownership in the United States versus the rest of the world. Ever wonder how the "American Dream" of owning your own home became a cultural norm in the United States? Well, I hadn't either. Growing up it was just part of what we were taught to aspire... a "good, steady" job and owning your own home (white picket fence optional). But, apparently that's not part of the dream anywhere else but here. Look at the home ownership rates in the the U.S. versus Switzerland - 68% in U.S., 22% in Switzerland.

Then the question becomes, why is this? Who decided this was a virtue for us? Mr. Harvey offers one answer on the video - People with a mortgage are much less likely to strike...

Here's an interesting exercise - Google home ownership rates by State - see a pattern?

Harvey's most recent book is on my to read list - click below to order -

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