Homeownership May Actually Cause Unemployment

In the article, Challenge to Dogma on Owning a Home written by Floyd Norris published on May 9th, 2013, discusses the downside of homeownership and the affect it has on unemployment. The article goes into a discussion that is based about the pros and cons when it comes to homeownership. When looking at the pros of homeownership, the article discusses that when the public increases spending money into the economy and invest in homes, is has a positive effect on children. The National Association of Realtors reported that children are less likely to drop out of school, children are less likely to be using the welfare system, children have a safe environment to grow, and teen pregnancy is lower than children not in family home settings. Homeownership was also seen to be a positive thing when it came to President George W. Bush. He believed that having the community invest in homes would give a citizens a “chance to realize the great promise of our country” ( The New York Times, Norris). …show more content…
One of important themes seen in this article, is the credit crisis. The credit crisis is allowed the population to live outside the means of what they can afford which leads many families to bankruptcy. Another important aspect of why homeownership has become unfavorable for the community is due to the labor market. When homeownership is being seen as a positive thing, zoning has become an issue to lead to less jobs in a community. Many homeowner resorts do not want businesses to be in their “backyard”. This has lead to farther commute times for workers, less employment in communities, and increased cost for employers for qualified