So Much for the Bush Ownership Society

Remember this?

President Bush is poised to pursue an aggressive "ownership society" agenda of Social Security privatization, new tax breaks for savings and investment and additional incentives for homeownership as cornerstones of his second-term economic initiatives.

Didn't really work out, did it?

Abandoned Houses in Detroit

Now there's data to prove it.

If 2010 headship rates and homeownership rates for each age group had been the same as in 1990, the US homeownership rate would have been 66.7% instead of 65.1%. If 2010 headship rates and homeownership rates had been the same as in 2000, the US homeownership rate would have been 67.3%!

In fact, the aggregate data suggest that in 2010 the homeownership for most age groups was probably below 1990 rates!!!

Last week’s report, then, was clearly the BIGGEST STORY ON US HOMEOWNERSHIP in many, many years.

Of course there was complete radio silence from the "liberal" media on this key metric.