Economic: Not Everyone Should Own a Home

POST: It Takes an Outsider Oct 6, 2008. Matt May

I’ve been disappointed in all the op-eds purporting to address the “root cause” of the mortgage mess and the resulting Wall Street collapse. And there have been plenty. But the reason I’ve been disappointed is because none of them get at the root. I know this because I can ask a further “why?” to whatever cause is trounced out: mark-to-market valuations, credit default swap complexity, indecipherable information, you name it.

And then I read an opinion by a columnist for The Australian by the name of Janet Albrechtensen, in today’s Wall Street Journal, entitled “Not Everyone Should Own a Home.” And she nailed it.