[lbo-talk] re. subprpime suburbs

[James Heartfield]

I should have known that the relatively high home ownership in the US would 
be transformed into proof of Americans' low incomes. (file under quaint 
beliefs of the LBOers: US immiseration)

Doug writes:

" it's interesting
that the countries with the highest ownership rates are on the
periphery, historically poorer countries like Ireland and Spain, and
the lowest are at the core, like Germany. The state with the highest
homeownership rate in the U.S. is West Virginia, which is our own
internal periphery."