In the American mind, renting has long symbolized striving—striving, that is, well short of achieving. But as we climb our way out of the Great Recession, it seems something has changed. Americans are getting over the idea of owning the American dream; increasingly, they're OK with renting it. Homeownership is on the decline, and home rentership is on the rise. But the trend isn't limited to the housing market. Across the board—for goods ranging from cars to books to clothes—Americans are increasingly acclimating to the idea of giving up the stability of being an owner for the flexibility of being a renter. This may sound like a decline in living standards. But the new realities of our increasingly mobile economy make it more likely that this transition from an Ownership Society to what might be called a Rentership Society, far from being a drag, will unleash a wave of economic efficiency
Read it all.
Filed under: * Culture-Watch Blogging & the Internet --Social Networking Globalization Marriage & Family Psychology * Economics, Politics Economy Consumer/consumer spending Corporations/Corporate Life Housing/Real Estate Market Labor/Labor Unions/Labor Market * International News & Commentary America/U.S.A.
Posted May 5, 2012 at 2:25 pm
To comment on this article: Go to Article ViewThe URL for this article is http://www.kendallharmon.net/t19/index.php/t19/article/42705/
© 2013 Kendall S. Harmon. All rights reserved.
For original material from Titusonenine (such as articles and commentary by Dr. Harmon) permission to copy and distribute free of charge is granted, provided this notice, the logo, and the web site address are visible on all copies. For permission for use in for-profit publications, please email KSHarmon[at]mindspring[dot]com
<< Return to Mobile view (headlines)