Daniel Hertz for City Lab:
In other words, possibly the only thing worse than a world in which homeownership doesn’t work as a wealth-building tool is a world in which it does work as a wealth-building tool.
This also means that the two stated pillars of American housing policy — homeownership as wealth-building and housing affordability — are fundamentally at odds.
I think that Hertz has it backwards; people are in fact better off when home ownership builds wealth. Nevertheless, the thesis that housing policy mandates are contradictory is incredibly insightful.