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To: skinowski who wrote (126595)	12/1/2005 11:55:33 AM
From: Galirayo	Read Replies (1) \| Respond to of 209892

Ski .. let's not forget the duration of accommodative interest rates and the large increase of home ownership during the low rate phase. The rising ARM rate will knock some out of home ownership but net net .. there are many more home owners today. Right?

To: skinowski who wrote (126595)	12/1/2005 12:01:32 PM
From: Win-Lose-Draw	Read Replies (1) \| Respond to of 209892

Aren't financial health and home ownership orthogonal issues? You can be a well-off renter, or a thin-ice homeowner. It also seems to me the idea that most people should be able to afford their own home runs counter to some of the most basic assumptions of capitalism. The market-distorting necessity of Fannie Mae would seem to support that. I guess what I'm saying is that lack of affordability, if it translates into lower rates of home ownership, can be viewed as a sign that the economy/market is functioning as it should.