One of the greatest things that a society or civilization can have is buy-in from its citizenry. Perhaps you might call this a sense of nationalism that comes from owning a piece of America. Home ownership helps boost the value of ownership societies and yet even though more Americans own homes now then have ever in the history of our nation we also have a problem where the home equity value is less on a percentage per house than it has ever been also.

We know from the last real estate crash that when home equity becomes negative that more and more people walk away from their homes and then they are disenchanted with our society, civilization and even capitalism itself. This is unfortunate although it also shows a sense of irresponsibility on the part of those people who dug their own grave of debt. Nevertheless in the blame game world of human civilizations and societies people who have hardships of life usually try to blame someone else for them.

So what started out to be a great advancement in the concept an ownership society in the United States of America looks like it is slowly losing some of its steam and actually might end up causing a little bit of a problem in the future. The Federal Reserve says that the housing market collapse is not as bad as people portray it and this is relatively true however, it is something we need to watch in the future.

If people walk away from their loans this can cause a problem in the banking system and American citizens are already in too much debt with short-term loans and credit cards. An ownership society is a great idea and we should commend our leadership for working towards that noble goal, but at the same time we must be very careful that we talk about ownership we are not just talking about debt; rather actual ownership.

Owning a piece of America should not be owning an overwhelming responsibility of stress to make payments on something that is not his worth as much as the loan value. Please consider this in 2006.