Friday, September 7, 2012

Renting the American Dream

I see the potential for libraries everywhere! 

Also, I still love the synthesis provided by The Week (reposted from the Washington Post)

Americans are coming around to renting the American dream instead of owning it, said Daniel Gross. From houses and cars to textbooks and clothes, people are giving up the stability of being an owner for the flexibility of being a renter and that trend could unleash a new wave of economic efficiency. We tend to see renting as a step backward on the ladder of success, but the cold, hard truth is that we never really owned the American dream in the first place; we merely financed it on borrowed cash. And as we climb out of the Great Recession, we're learning to consume more efficiently. Last year, it was cheaper to rent than to own a home in 72 percent of US metropolitan areas, up from 54 percent a decade ago. Workers who aren't encumbered by a mortgage have the advantage of being able to move and seek jobs elsewhere. New and innovative businesses, like Zipcar for car-sharing and the Runway for designer clothes, are emerging to cater to the rentership movement. The economy could get a real boost from this sea change in how people view the true value of their property.

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