Arnold Kling  

The Escalation of Well-Being

The Marginal Myth... Envy and Status...

Don Boudreaux pulls some facts out of a Bureau of Labor Statistics report.

It's surprising (and important to note) that in 1901 only 19 percent of U.S. families owned a home; by 1972-1973, this figure had risen to 58.8; indeed, the percent of familiies who owned their homes outright -- with no mortgage -- was 25.3 percent. In 2002-2003, the percent of families who own their own home is even higher -- at 67 percent; likewise with the percent of families today who own their homes outright -- sans mortgage -- 26 percent.

The full report is here.

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CATEGORIES: Income Distribution

COMMENTS (1 to date)
Lord writes:

Wouldn't it be difficult to have a home paid for if life expectancy were only 40?

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