The basic message of Felix Salmon’s housing-market screed is: Buyers beware, renters rejoice.
He clearly has a point that home ownership isn’t for everyone. Renting is a great, flexible option for many people. But where does he draw the line? What percentage of the population should own vs. rent? Does he think U.S. home-ownership levels should be the same as they are in Germany?
He cites a lot of valid reasons for renting, but, in the process, goes overboard in his criticism of ownership. He never elaborates at what point buying is a better option for individuals and couples trying to establish a more stable long-term lifestyle.