Are We Still Pursuing the Same American Dream?

Danville Homeownership

As our society continues to undergo significant change in technology, science, and culture, many individuals wonder if the American Dream of home ownership has changed as a result. Despite the societal changes, many argue that home homeownership is still an important part of the American Dream.

Presently, many individuals are starting to return to the view of homeownership as an attainable goal. If you were to ask this question a few years back, chances are you would not hear the same feedback. Improvements in the housing market have increased confidence levels of many; however, there are still some individuals who view homeownership as a dream rather than a reality, due to financial barriers.

Many who dream of owning a home claim their credit report is still a hindering factor and the high down payment requirement make this dream nearly impossible. Unfortunately, as the housing market continues to improve, prices will continue to go up, and housing affordability will go down.

While many still view homeownership as a vital aspect of the American Dream, it seems that some younger individuals are stepping away from it. Millennials often enjoy the idea of mobility which results from renting.  Also, heavy student debt and their delay in independent household formation contribute to the lack of Millennial home ownership. Overall, the American Dream has changed a bit. However, it seems that the majority of individuals are still chasing that dream.

With years of experience assisting individuals in selling and buying their homes, you can rest assured that our team is the perfect representation of all your local real estate needs. Contact the trusted Zwahlen Team, your San Ramon Valley Realtors for all of your real estate needs in Danville and the surrounding cities.