Our Lot

Tuesday, February 16, 2010

Alyssa Katz explains how economic anxieties and realities of ordinary Americans, combined with greed and delusion on Wall Street and in Washington, inflated the real estate bubble. In Our Lot: How Real Estate Came to Own Us, she looks into how our entire nation got swept up in real estate mania, and connects the collapse of the mortgage markets and its impact on the global economy with the U .S. government’s push to make home ownership possible for those who hadn’t been able to attain it before.


Alyssa Katz

Comments [4]

Eugenia Renskoff from Williamsburgh, Brooklyn

I value home ownership,even now after I lost my condo to foreclosure in November 2005. Home ownership is not just a big part of the American dream. Owining your own home makes a person do more for his or her most important asset. You are responsible for the place you call home and you don't have to depend on anyone (except the plumber) to do this or that. I miss my condo after all this time.No one--no matter how desperate or lean the economic times--should play with someone's dream to own a home. No one should be allowed to defraud a borrower. Eugenia Renskoff

Feb. 16 2010 07:18 PM
CJ from NY

Another tenant in my building, her celiing fell in over the weekend. The building manager told the Super that he will look at it when he gets back from vacation.

Any wonder why people want to own their own homes?

Feb. 16 2010 12:36 PM
Kevin Mac from NYC

Barney Frank-Chris Dodd!!!!!!

Feb. 16 2010 12:19 PM
Jgarbuz from Queens, NY

When I lived in Israel during the 1980s, mortgages were ONLY available for apartments, not for houses or "villas" as they are called over there. If you wanted to own a house, unless you were rich to start off with, you would first have to acquire a plot of land, and then build the house yourself or with hired workers. For many who did so, it often took them 20 or more years until the house was finally built and paid for and ready to move in. So a typical couple that perhaps started in their mid-20s might only be able to actually occupy it in their mid-40s. But it was really theirs, though they still would have to pay property taxes. I don't know if mortgages are available for villas today though.

And that's the way it was in America before the 20th century as well.

Feb. 16 2010 12:14 PM

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