Doug Henwood dhenwood at panix.com
Sat Sep 16 09:40:21 MDT 1995

This homeownership thing isn't as straightforward as the MIM would have it.
The European country with the highest rate of homeownership is Ireland; the
lowest, Switzerland. The US state with the highest was, last time I
checked, West Virginia; California and New York were among the lowest. Does
this tell us anything about the respective politics of the countries?

MIM seems to be taking a lot of ideology at face value - i.e., the
embourgeoising nature of homeownership. It what Marxian sense is a "home" a
capital asset? It throws off no income, and may not even appreciate
significantly in value. What homeowner could liquidate his or her asset and
turn it into a real capital asset, one that generates some M'? People
either live in their owned crib, or if they sell it, immediately sink the
proceeds into another.



Doug Henwood
[dhenwood at panix.com]
Left Business Observer
250 W 85 St
New York NY 10024-3217
+1-212-874-4020 voice
+1-212-874-3137 fax

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