I would have to agree with the premise of this article--the Middle Class in the United States has been hammered by the economy and the economic policies that were put into place at the end of the Clinton Administration. With the repeal of Glass-Steagall Act in 1999, the seeds were placed to go after the one thing that made the Middle Class seem wealthy--the value of a decent home.
If you can extrapolate from the destruction of home values two main points--the Middle Class was cheated and that millions of Americans were denied entry into the Middle Class--then you can see where this is headed. Unless and until real reform is enacted to prevent another Real Esate bubble, what little equity still exists out there is going to continue to shrink and lenders are going to continue to be evasive and predatory.
You absolutely cannot have a Middle Class without a real estate market that reflects actual growth in terms of the sales of existing homes. Your typical Middle Class family lost value in their major asset five years ago, their home, and that value simply hasn't come back. Their value went into the pocket of someone who thought it would be clever to ride a manufactured real estate bubble out into the middle of nowhere and then just abandon people to their fate. Untold numbers of communities have been blighted ever since, littered with homes that used to house Middle Class families.
Now, we have shells in this country. Decaying shells full of miserable failure. Real reform can't come soon enough.