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Americans think owning a home is better for them than it is

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"Americans wrongly think that owning a home is a great financial move."
In fact, if you trace the long-term Case-Shiller index, you find that "homes" (really, land), only appreciates at the rate of growth in the surrounding community + inflation. People discount their own free labor in upkeeping a home, and drastically undercount inflation.
Rent-seeking only benefits those who buy and sell land for a living, or who can privatize the rent that ought to return to the People whose demand created it in the first place.

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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a former blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
http://www.americaisnotbroke.net/

Scott is a former and current President of Common Ground-NY (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of (more...)