Renting Prosperity

Daniel Gross :

The U.S. economy needs the dynamism that renting enables as much as—if not more than—it needs the stability that ownership engenders. In the current economy, there are vast gulfs between the employment pictures in different regions and states, from 12% unemployment in Nevada to 3% unemployment in North Dakota. But a steelworker in Buffalo, or an underemployed construction worker in Las Vegas, can't easily take his skills to where they are needed in North Dakota or Wyoming if he's underwater on his mortgage. Economists, in fact, have found that there is frequently a correlation between persistently high local unemployment rates and high levels of homeownership.

  • Libetarian

    This live blog of a debate is head and shoulders above any other live blog of any other debate. This site is now on my favorites.

    • Greg N.

      Libetarian, you must not have seen the live blog over at No offense taken, of course, but you – and everyone else – ought to check it out.