Homeownership has long been a crucial pillar of the American Dream. For the better part of a century we’ve believed that building and buying homes is synonymous not only with the "good life" but with a productive and prosperous economy. The number of housing sales and starts is a commonly used barometer of economic health. The president, his economic advisers, and countless economists and business analysts continue to believe that economic recovery turns on the recovery of the housing market.
But with the collapse of the housing bubble so bound up with the ongoing economic crisis, a dissenting view has emerged.