Date: Thu, 14 Sep 1995 14:33:49 -0400 To: heimlich@iti.com, PROGRESSIVE POPULATION NETWORK From: dhenwood@panix.com (Doug Henwood) Subject: Re: KZPG-US-Front: Press release Cease this Malthusian claptrap! Housing in the US was more affordable decades ago, when growth was faster. One problem with housing affordability in the US is that housing inflation is national policy - an increase in "home" prices is supposed to be good. A house is an investment vehicle - treated in the US national income accounts as a business; owner-occupiers are treated as paying imputed rent to themselves. Mortgage debt has increased much more rapidly than underlying value, which inflates prices. Doug -- Doug Henwood [dhenwood@panix.com] Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax