The US needs to make homes more affordable – and available
A decade after the subprime meltdown, housing is still at the centre of economic bifurcation. That’s because homes are as much a tradable asset as shelter.
Yet another summer has been spent within driving distance of home. I passed the last six weeks in rural Sullivan County, a beautiful place in the Catskill Mountains about two hours from New York City.
Poverty levels are about 25 per cent higher than in the rest of the state, according to the latest census figures. Per-capita income is just under $US31,000, $US5000 below the national average.
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Financial Times
Rana Foroohar is a global business columnist and an associate editor at the Financial Times, based in New York. She is also CNN’s global economic analyst.
