>John, well done getting out in time. Of course "somebody" has to own the properties needed for people who aren't ready/willing/able to take responsibility for ownership. Perhaps it'll end up like parts of Europe where people expect to live out their lives in property owned by monarchy/nobility or firms whose medium-term spans a century or two and which don't need to borrow.

We have government subsidized housing for that very purpose. For low-income or lower-income renters. I looked at some recently and they are very nice before they get destroyed. They were all built in a nicer area of town. Our area has put a lot of apartment complexes in that are government subsidized. The maximum income in order to qualify is around 24,000/yr (it depends on the complex) and monthly rental amount is 350.00 for a 3 bedroom and it goes down the less income you earn. The complexes were nicer than any I looked at elsewhere. These complexes are all less than 2 years old and the renters are a mixed bunch. A lot of college age kids rent them. It will be interesting to see what they look like in 3 years or so...

We also have section 8 housing and qualifiying is dependent on the area of the U.S. you live in. Your income has to be below the 50% percentile in the area to qualify.