When Real Estate Means More Than A Place To Live

Residential housing, at its most irrational, is focused solely on the social-emotional needs of the buyer or seller. Many people think owning a home proves one or more of the following things:

1. Proves you are grown up.
2. Proves you are successful.
3. Proves you are independent.
4. Proves you are a good “catch” in the dating world.
5. Proves you are a good spouse.
6. Proves you are a good parent.
7. Proves you are not a “loser” in a divorce.

This is all nonsense, but it is socially reinforced nonsense. Owning a house proves none of this, but owning property (whether it is a house or a condo) remains a socially-sanctioned outward marker of responsibility and worthiness. Being unable to buy, or losing a house to divorce or financial setback strikes some people as irresponsibility or unworthiness.

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