Own to Rent: Yes, We Can!

It seems to work for Barack Obama, why not progressive housing policy? Just to remind everyone where we left off, we are at the beginning of a recession induced by the collapse of an $8 trillion housing bubble.

The bubble burst because high prices led to oversupply, which eventually led to downward pressure on house prices. (Economists used to understand this is the way markets work.) The immediate impact of the collapse of the bubble was on the housing sector itself, with sales down by almost 40 percent compared to 2005 peaks, and housing starts down by almost 50 percent.