Charles Hugh Smith's Substack

Charles Hugh Smith's Substack

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Charles Hugh Smith's Substack
Charles Hugh Smith's Substack
Housing: The Foundations of the Middle Class Are Crumbling

Housing: The Foundations of the Middle Class Are Crumbling

Bottom line: with the loss of predictability, we've also lost any sense of future financial security.

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Charles Hugh Smith
Feb 26, 2025
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Charles Hugh Smith's Substack
Charles Hugh Smith's Substack
Housing: The Foundations of the Middle Class Are Crumbling
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Home ownership has been the foundation of middle-class stability and security for so long that it defines middle-class status as much as income. From the end of World War II in 1945 on, the deal was simple: buy a house and you'll build equity that's even better than a savings account because you get the tax break of deducting mortgage interest and you g…

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