Bringing Adam Smith into the American Home
A Case Against Home Ownership
- 176 pages
- English
- ePUB (mobile friendly)
- Available on iOS & Android
About this book
Get ready to have everything you've ever believed about housing and homeownership challenged. In Bringing Adam Smith into the American Home, authors Jack Ryan and John Tamny make a powerful case that the purchase of a home slows wealth attainmentārendering owners immobile in ways that further restrain their wealth chancesāand that the act of homeownership deprives owners of the time and ability to do what they do best, which further dampens individual economic achievement.Thanks to the residential real estate pricing cartel, homeownership has become so costly that it has erected wildly expensive barriers to the very mobility that powers so much individual prosperity. As the cartel prospers, homebuyers and sellers alike suffer its rigidity.Ryan and Tamny call for the evisceration of realtor commissionsāthe only price in all of capitalism that has not come down even a little over the decades despite capitalism's brilliant track record of bringing down the price of everything. Ryan, owner of a national residential realty business, recognizes that the very commissions realtors cling to are paradoxically harming them, all the while discreetly but powerfully shrinking prosperity for everyone else.In a book chock-full of insights from Adam Smith, author of the greatest economics book ever written, Ryan and Tamny make their highly original argument available for all as they reveal the truth about the housing market and homeownership.
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Information
Table of contents
- Copyright
- Dedications
- Contents
- Introduction
- Chapter One: Despite What They Tell You, Housing Is Not Investment
- Chapter Two: Housing Consumption and the Low Interest Rate Myth
- Chapter Three: That Which Holds People in Place Restrains Economic Progress
- Chapter Four: The NAR Cartelās Obnoxious Tax on Progress
- Chapter Five: What Boosts Human Capital Mobility Will Also Lift Realtors and the Economy at Large
- Chapter Six: High Housing Sales Commissions Restrict Investment, and by Extension, Job Creation
- Chapter Seven: My Talent, and My Choice of What to Do with It
- Chapter Eight: A Case Against Home Ownership
- Conclusion
- Afterword: Adam Smith Can Only Work in Free Markets
- Endnotes
- Acknowledgments by John Tamny