For almost three years now I have talked about the idea that the American Dream of homeownership was really only a mirage. While policymakers had good intentions, homeownership has in many instances become the American Nightmare for numerous systematic reasons including: greed, lax government regulation and pure fraud. In a wonderful front page analysis in today’s Wall Street Journal, they take us through the process of why renting is now the “New Normal” and the New American Dream.
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