The New York Times has a story out today talking about the rise in renters erasing the gains of home ownership.

Driven largely by the surge in foreclosures and an unsettled housing market, Americans are renting apartments and houses at the highest level since President Bush started a campaign to expand homeownership in 2002.

Yet, there’s probaby around 20% of the American people who still approve of Bush. The problem with people looking to rent now is the fact that it’s getting harder to find a place to rent. Also the cost to rent is increasing as the demand has increased. Neoliberal Milton Friedmanism shows it’s true face once again. The only good thing about the foreclosures is that greedy and somewhat predatory lenders are being put out of business or are taking a big loss. Yes, some of the people who took out mortgages or who speculated are at fault for taking on something they should not have; but it doesn’t erase the greed of the banks.

Technorati : bush, ownership society