Your tip
Your tip
RadarOnlineRadarOnline
or
Sign in with lockrMail

The Failure of the Trickle-Down Ownership Society

Oct. 27 2008, Published 7:07 a.m. ET

RadarOnline CommentsLink to FacebookShare to XShare to FlipboardShare to Email

NOT YOUR HOMEBOY Bush (Photo: Getty Images) In 2004, George Bush gave a little talk to the National Association of Home Builders. "For millions of our citizens, the American Dream™ starts with owning a home," he said. This December, housing unit sales were down 40 percent from a year ago, in an era of of heightened stagflation and possible loss of homes, as millions of cruddy-termed mortgage payments are coming due.

Article continues below advertisement

"Bush has turned out to be the ownership society's undertaker," writes Naomi Klein in the Nation. The ownership society was an excellent scheme, too, she points out—it worked to recruit voters to the right when that monster Margaret Thatcher put London public housing on the market. Those who purchased their flats went Tory about half the time. (Double win: Those who became homeless were probably less likely to show up to vote!)

Radar Logo

Never Miss an

Exclusive

Daily updates from the heart of Hollywood, right to your inbox

By entering your email and clicking Sign Up, you’re agreeing to let us send you customized marketing messages about us and our advertising partners. You are also agreeing to our Terms of Service and Privacy Policy.

READ MORE ON Celebrity

Opt-out of personalized ads

© Copyright 2025 RADAR ONLINE™️. A DIVISION OF MYSTIFY ENTERTAINMENT NETWORK INC. RADAR ONLINE is a registered trademark. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy. People may receive compensation for some links to products and services. Offers may be subject to change without notice.