Home ownership: Is it part of the disappearing American Dream?
Home ownership has been a longstanding part of the American Dream, one that seems increasingly elusive in recent decades. Costs for home purchases have risen dramatically in the past 50 years. It’s made many members of the baby boom generation wealthy. They purchased homes in the 1970s or 1980s and watched them appreciate in value. Very often nowadays retirees have their house as their greatest asset. The problem we face in 2023 is that the home value increase is not likely to continue. Values can’t increase much more without going well beyond what most middle class buyers can ...