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Housing was not the only thing that took down the markets, but it is one of the main things inhibiting a good recovery. It will be years until the housing market sorts out. That is continued good news for multifamily. For openers, all of the politicians got on the ridiculous band wagon that everyone should own their own home and fulfill the “American dream”. First of all, not everyone has that dream. Second the equilibrium ownership in the US is probably somewhere around 63%-65% in the current economic environment. Third, there is a whole segment of the population who will not care for a home any better if they own or rent. They are just irresponsible slobs, or they will never have the income to properly maintain it. The whole concept that everyone should own a home is political rhetoric and not reality.

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