Friend or Foe? A Brief Overview of Land and Homeownership Policy in the United States

Abstract

United States’ initial land distribution and later housing policy has historically encouraged ownership with the expectation of positive outcomes for individuals, communities, and the nation. Policy that has intended to support ownership has been successful, as evidenced by historic rates. Homeownership and associated policies have played an undeniable role in consumers’ psyche and net wealth. The same policies and practices that increased the number of homeowners to historic rates may be the “foe” that led to the recent financial collapse. Despite shortcomings, homeownership will persist as the tenure norm. A more conservative policy approach to ownership may be the “friend” needed to help protect consumers and markets from volatility.