Tag Archives: Apartments

The American Hallucination

A wag in the New York Times pointed out that the current ARM mortgage crisis owes at least as much to predatory borrowing as it does to predatory lending (which is admittedly a huge problem). I own a home now, but I can’t help wondering why renters–people who can’t afford to buy a home–should pay higher taxes to support those who own? It’s already pretty crazy that the Army Corps of Engineers spends millions to shore up beaches to save homes owned by multimillionaires.