It’s not just a failure of housing policy. It's a symbol of everything that’s wrong with the American tax code.
While some remain cynical about homeownership, the U.S.'s foreign-born population still regards it as a symbol of attaining the American Dream.
But no, we’re not headed for anything even close to 2008.
What good is cheap rent if the cost of commuting consumes a huge chunk of the tenant's income?