“The appeal of the house for Americans, going back into the 20th century, was that it signified autonomy. You know, every home is a castle,” says Louis Hyman, an economic historian and assistant professor at Cornell University. “So, it has these echoes of signifying independence and achievement.”
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As Americans find that their wages are stagnating after the 1970s, they're able to make money by investing in houses,” Hyman says.
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Hyman says one answer to the problem could be to set up a system of portable benefits. “Every time there is a transaction, every time somebody comes to your door and delivers something to you, a dollar goes into their retirement account and a dollar goes into their health care fund,” Hyman says.
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The character of Hyman Roth from The Godfather Part II was based on Meyer Lansky.
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