Home Ownership Rate in the US Back to 1998 Levels | Irvine Real Estate | Irvine Homes for Sale

by Robert Mack on February 5, 2011

in Buyers, Latest News, Sellers

Isn’t it interesting that from back at least to the early 90s politicians, both Democrats and Republicans but mostly Democrats, had been calling for increasing the percentage of home ownership, which means among the poor. It’s a perfect liberal feel good intention, and something every good liberal thinks, or thought, government can make happen. Too bad reality always intrudes to ruin the statists’ grand intentions. This is just another in a long line of examples.

We learned this week that home ownership rates have regressed to 1998 levels. Government policies driven primarily by liberal Democrats (are there any other kind?) forced banks to loan to the now infamous “sub-prime” market, and over a number of years this created a mountainous bubble. The economically destructive lava that flows from that burst bubble continues to wreak havoc on American lives (according to zillow.com, the house I purchased 11 years ago is worth $3,500 less than it was in 2000! Thank you Ted Kennedy, Barney Frank and Chris Dodd).

Progressives, leftists, liberals, socialists, whatever you call them, are under the illusion that government can engineer results, which is the product of a fundamental misunderstanding of human nature and reality. How’s the “war on poverty” going? What about that “war on drugs”? Who’s going to pay for that welfare state after all? Universal public education? Of course one could go on and on and on.

The Founders had it about right: maximum ordered liberty. Too much state power and you impinge on liberty and as history has shown destroy wealth, happiness, and opportunity; and never confuse liberty with anarchy and lack of self-restraint. Hopefully we’re at a point in American history where the American people are on to the snake oil sold by leftist politicians that they can create nirvana on earth.

Posted on Irvine Orange County Real Estate Market News

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Post by Robert Mack

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