The Rise and Fall of the American Homeowner
Interview with Joshua Specht about his book Property Values: The Rise and Fall of the American Homeowner. traces how land ownership became central to American independence, shifting from widespread prosperity to property appreciation. Discusses colonial land speculation, Native American displacement, and the frontier’s closing. Explores Henry George’s critique of land monopoly and visions from Bryan and Addams. The New Deal’s mortgage reforms created an “ownership society”, yet propagated exclusion through redlining and tax limitations like Proposition 13. Homeowners’ associations privatised governance. The 2008 financial crisis exposed financialisation flaws, where individual blame obscured systemic issues. Advocates for regional housing policies and greater density.
