The American Dream turned into a nightmare when the housing bubble burst, and people have been trying to figure out who to blame- Greedy bankers? Corrupt politicians? Ignorant homeowners? In American Nightmare: How Government Undermines the Dream of Homeownership, Randal O'Toole explores the forces at play in the housing market and shows how we can rebuild the American dream of homeownership by eliminating federal, state, and local policies that distort the free market for housing.
But, American Nightmare is more than an inside look at how government policies undermined the American Dream. O'Toole offers a penetrating view of the housing landscape in America by delving into the changing attitudes about homeownership among people of different income classes as they migrated to and from urban centers and shows how that laid the groundwork for the war on sprawl. He covers housing during the agrarian, urban, suburban, New Deal, and postwar eras and demonstrate how the drive for homeownership did not let us down. Government planners let us down.