The rent chart looks like a 4% inflation rate to me. Big deal.
The home ownership graph looks like those who shouldn’t have owned homes during the boom no longer own them. As it should be.
The one thing I am trying to impress on my kids now is never buy into a home where the mortgage owns you. Like many of you, I have gone through the ups and downs of this economy but thankfully was able to keep my mortgage payments current. I could not have done that if I had lived outside my means with some exotic mortgage loan.
Home ownership should have never been pushed on everyone in the first place. There should always be a segment of the population who are able to quickly relocate to where the jobs are.