While the United States has always been a home ownership country, where occupier owned homes have always far outweighed rented property, the current level of home ownership (70%) is high by historic standards. The country has just gone through the tail end of a housing boom that many believe is linked to the stock market that recently peaked at an all time high. Lately, the current financial crisis has been attributed to the unfettered deregulation and securitization of real estate mortgages in the United States. This led to a global speculative bubble in real estate and securities that burst in 2008. [click to continue…]
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