EconoMeter: Panel considers future of homeownership
Roger Showley, SAN DIEGO UNION-TRIBUNE
Sunday, May 15, 2011
Kelly Cunningham, National University System
It should not be at all. Housing remains one of the better means for building wealth as a long-term investment. It may no longer be considered the scheme for getting rich quick, although even that may not be permanent. The housing market is constantly evolving with population changes, i.e. fewer children, smaller households. The entire mortgage system essentially collapsed and needs to be completely overhauled or replaced. Government-sponsored mortgage companies, constantly needing taxpayer support, should be turned back to responsible private financial sectors serving local communities much more closely with restructured credit available for average American’s mortgage needs.