The entire point of the article is that this way of thinking is outdated. Yes, we have long considered homes as primary investments and as the best way to grow wealth, and yes, we have had falling home prices bite us in the ass before. But these things are not set in stone, and a world where houses are just one of many goods we own and consume would work out just fine too, and perhaps it would work even better.
We can change the tax code, and home prices don't have to drop suddenly like they did in 2008 and put people underwater. They could simply plateau.
Changing things isn't so simple. Homeowners aren't going to be very keen on voting for politicians who run on devaluing their homes or making them pay thousands of dollars of extra taxes every year.
We can change the tax code, and home prices don't have to drop suddenly like they did in 2008 and put people underwater. They could simply plateau.