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If the majority own their own homes, there will be successful pressure to use the state to subsidize, aid, and otherwise help homeowners. If the majority rent, there will be successful pressure to use the state to subsidize, aid, and otherwise help renters. Both create inefficient policies that cause a great deal of harm. However, the issue is a defective democracy not defective economics.
Source: Megan McArdle, "Who Are Worse, Renters or Owners?," bloomberg.com, July 30, 2013
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