I have innumerable friends right now who are hamstrung by their homes. They are deferring job opportunities, travel plans, even splitting up families because they are locked into mortgages on homes they cannot sell.
Which was why I was so interested in Richard Florida's (The Creative Class, The Great Reset) prediction that we are now headed toward a "rentership society"- one in which mobility is valued over the white picket fence.
Florida echoes that other urban thinker who is on my mind, James Howard Kuntsler, when he talks about the degree of subsidization that has been provided the quest to build a landscape dominated by a monoculture of single-family homes that is neither economically nor environmentally sustainable.
While Kuntler predicts a future that does not fall short of apocalyptic, Florida merely predicts that the character of the American Dream will shift as we relinquish the idea that the ultimate measure of success is homeownership. To some, the thought of removing that quintessential piece of the American dream, may seem equal to an apocalypse.
Image Source: missouridevelopment.com
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