It would be far more accurate to label U.S. federal homeownership policy, U.S. mortgage policy. For the primary means of “extending” homeownership, via federal policy, has been the massive increase in mortgage debt. Sadly the actual trend increase in homeownership has been close to nothing since 1960.
If the ultimate intent of housing policy is to help build wealth and enable families to have something to pass along to future generations, then the right measure should be home equity. Even better measure would be the percent of homeowners...
The Long Run Decline in Actual Homeownership