Has The American Dream, Gone Up In Smoke?



By Mon Sherie, Contributor


As home prices continue to fall and the labor markets remain weak, low rates are not enough to make buyers want to get into the housing market anytime soon.

Families are actually opting out of homeownership and are turning to renting homes instead of taking out a mortgage to own them.  As it gets tougher and tougher to qualify for a mortgage to buy a home the American Dream of Homeownership is falling. 

If families opt out of homeownership the real estate industry will have a much harder time rebounding from the suppressed real estate market.  That is why it is important that the real estate industry find ways to create an environment where homeownership is sought after.

 

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