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Is the dream of universal home ownership in American dead?

Asked by Trulia San Francisco, San Francisco, CA Wed Apr 10, 2013

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Brad Neumann - NMLS 948036’s answer
I help people buy homes all day long. For help, call or email for a free pre-approval in less than 10 minutes. We lend our own money and are licensed in 49 states.

We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 415-5626.

Brad Neumann
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
Email: bneumann@myccmortgage.com
NMLS# 948036
0 votes Thank Flag Link Wed Oct 30, 2013
BEST ANSWER
I think John pretty much summed it up. The term "universal home ownership" got my attention as well. That's painting an issue with a pretty broad brush. I am still a believer in "The American Dream", however and feel that there will always be an appreciable abundance of folks who would love to own a home.

That stated, I also have to agree with Cindy as well. "home ownership is not for everyone". That is becoming more clearly evident by the day with the Baby Boomers. We're seeing more BB's downsizing from home ownership and buying into upscale lease land and resident owned Manufactured Home Communities.

Lot's of Boomers are still very young at heart and healthy and active and just want to minimize their dwellings in order to liberate themselves financially and from the ongoing obligations of a large home. Their priorities have changed and they want freedom to travel and play.

Not an opinion. A fact. We're seeing it everyday in San Diego. We've been in the MH industry here for almost 3 decades and we've never been so busy. Once they get the financing straightened out in lease land communities it will be Katie bar the doors.
1 vote Thank Flag Link Thu Apr 11, 2013
Your question is very surprising, because there has NEVER been a dream of universal home ownership in America. If we take the term "universal" litterally it means "everyone" - and that has never been, and never can be, possible. Home ownership is much like "full employment." There will always be people starting out who need time to build up wealth and income so they can buy a home without over-extending themselves financially. Home ownership is a dream that is made true by individuals and families who work hard, save, and EARN the ability to own a home. That route is not for everyone, therefore not everyone can - or should - own a home.
3 votes Thank Flag Link Wed Apr 10, 2013
It's never dead. But home ownership is not for everyone and may not be some people, or for some periods of their lives.

As a Realtor, I do not assume that it's right for everyone. I do think however there is a cultural dream that has impacted many people in our country.
1 vote Thank Flag Link Wed Apr 10, 2013
Home Ownership is alive and well from what I see across the country. Keep in mind if you read head lines and sound bites you would think the opinions would vary or contradict each other. Depending on which market place you are in and your taste determines if you stay as a Renter vs. become a Buyer. It is a simple fact of economics. If you can rent for $3,000 per month and live in a great location, but you do not have a down payment and your mortgage would be $5,000 per month in the same area...your taste will dictate you to Rent vs. to Buy.

Endre Barath,Jr.
Prudential California Realty
Beverly Hills, CA
homes@endrebarath.com
310.486.1002(m)
Web Reference: http://www.endrebarath.com
0 votes Thank Flag Link Sat Apr 13, 2013
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