In this Article, I endeavor to show that because Americans value homeownership so much — in fact, more than we should — we have placed ourselves in an untenable position as a country and now find ourselves in the midst of a well-documented housing crisis. In addition, we have used the primacy of homeownership as an excuse not to fulfill our country’s commitment to provide housing assistance to those persons who need it most. We have done this in part by undervaluing quality, affordable rental property (and quality renters) just as we have overvalued homeownership (and homeowners). Some have used the word “myth” in talking about the American view of homeownership; however, the word I prefer is “illusion,” which I intend to be less pejorative while still acknowledging that homeownership does not always deliver the benefits it promises, particularly for lower income homeowners. This Article is not particularly concerned with the question of who is to blame for the current housing crisis, because I believe fault in this context is too complicated to be laid at the feet of just one party or another. Part II of this Article examines the median American household, mortgage, and house, concluding that many Americans cannot afford the homes they have purchased. Next, Part III addresses the question of why our country overvalues homeownership to such an extent that it now finds itself in this position. In doing so, Part III examines the many benefits that homeownership supposedly provides to both individuals and society. Part IV contrasts society’s customary treatment of homeownership as a virtue with its stigmatization of renters, concluding that the latter is unfounded. Part IV also explores how the very interests that have promoted homeownership have also benefited most from its growth. Part V considers several factors that contributed to the real estate boom that culminated in the mid-2000s, including homeowners’ treatment of mortgage debt as wealth, financing options such as no-down-payment and interest-only loans, increased utilization of home equity loans, and certain features of subprime lending. Part VI concludes by suggesting that universal homeownership does not provide the benefits Americans have come to expect from it and proposing four steps policymakers should follow in creating healthier, more sustainable housing policy.

This paper explores an influential reform agenda - the notion of a Ministry of Justice - advanced by Justice Benjamin Nathan Cardozo, one of the American Law Institute's founding members. The article in which Justice Cardozo introduced the concept of a Ministry of Justice was published in the Harvard Law Review the very month that the exploratory committee was formed that ultimately recommended the formation of the American Law Institute, and two years before the Institute itself was founded. This article explores the extent, if any, to which the reform agenda that Justice Cardozo propounded in this famous article was fulfilled by the founding of the Institute.

This article examines the unique application of the Restatements as de facto common law in the Virgin Islands. Applying an evolutionary biology metaphor, the article examines the way in which this decision by the Virgin Islands Senate may have made a substantive difference in the common law as it developed in the Virgin Islands. Part of the point of this article is that the Senate's decision may have implications that reach beyond the Virgin Islands. The purpose of this article is to provide some guidance to judges so that they may act more purposefully in choosing to follow the Restatements, ensuring that the resultant body of law reflects the dynamism, concerns of fit and fairness, and deliberate decision-making that are ultimately so important to the authority of law.

The article concludes by recommending that courts take seriously the way in which the Restatements have changed since their inception, and not simply apply them automatically, as many have done. The article also recommends that courts take seriously the way in which Restatement created common law like that in the Virgin Islands may be substantively different from that which is developed in a more traditional fashion. Looking at some of the excellent judicial approaches that have been crafted in the Virgin Islands both clearly illustrates the potential problem with the automatic application of any Restatement and provides valuable guidance in creating a meaningful solution.