We present a new multiscale/stabilized finite element method for compressible and incompressible elasticity. The multiscale method arises from a decomposition of the displacement field into coarse (resolved) and fine (unresolved) scales. The resulting stabilized-mixed form consistently represents the fine computational scales in the solution and thus possesses higher coarse mesh accuracy. The ensuing finite element formulation allows arbitrary combinations of interpolation functions for the displacement and stress fields. Specifically, equal order interpolations that are easy to implement but violate the celebrated Babushka-Brezzi inf-sup condition, become stable and convergent. Since the proposed framework is based on sound variational foundations, it provides a basis for a priori error analysis of the system. Numerical simulations pass various element patch tests and confirm optimal convergence in the norms considered.