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The case against homeownership
Let's hear it for rootless cosmopolitanism, says the Economist. Owning property is boring and economically harmful.
Andrew Leonard [2007-12-04]

  • Another note on labour mobility

    Even without selling, homeowners can be quite mobile. Many of the people who work in my industry live and own homes in Newfoundland (average house price: $137k), but work in Fort McMurray, Alberta (average house price: $663k) - a 2500 mile commute. Efficiency, I'm not so sure about, but it does work, and the companies that foot the bill are still turning enormous profits. The argument could even be made that it's helping to keep the gap between rich and middle class in check.

    -- ncarey
    [Read ncarey's other letters]
    Tuesday, December 4, 2007 09:23 AM
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