The American DREAM

 In the past, the American Dream was go to college, get married, buy a home, and raise a family...  secondary to that main dream was the American Dream of don't go to college, get technical/crafts skills training, get married, buy a home, and raise a family...

Our new American Dream is go to college, get married, maybe buy a home, raise a family, and pay off college debt.  The same maybe buy a home with the technical/crafts skills training but no college debt.

The key here is BUYING A HOME...  that is no longer part of the American Dream...

College debt is increasing regardless of buying a home or not.

I have said for over TWENTY YEARS that going to college is NO LONGER NECESSARY to have a quality life...

HOWEVER, owning a home is CONTINGENT upon where one lives and what one is willing to o to buy that home...

Let me explain...

Buying a home down in the southeastern USA is lot cheaper that a majority of other locations.  A $150,000 home in East TN will cost you $300,000 in Nashville, TN for instance and between $300,000 and $500,000 in the Research Triangle Park of North Carolina.

However, the wages are also lower in East TN as well...  so obviously, there is a tradeoff.

Here is a scenario that many people fail to see...  

You buy the cheapest home you can find that is livable, does not meet your needs, and does not require too much renovation and is in a fairly respectable part of town.

THIS AIN'T POSSIBLE YOU SAY...

Yes, it is if you are patient and keep looking.

Stay in that house for 3-5 years and renovate the kitchen and the bathrooms.

Sell the house and use the profits to buy a $200,000 house.

Real Estate will increase in value similar to the inflation growth rate which is typically about 2-3% each year.

Do the same with your $200,000 and in 3-5 years, you sell and buy a $300,000.

In 3-5 years, sell the $300,000 and buy at $400,000 house.

So far, it has been about 15 years and you have at least doubled the value of your original home...

If you did this at age 20, you are now 35....

If you do this for another 15 years, you will be 50 years old and own a home valued between $500,000 to $600,000.

DOWNSIDE:  you will have to move several times which is a hassle and you will have to stay focused on constantly looking for a new home and constantly making sure your current home is not damaged.

While many people say the American Dream is dead, I believe they are wrong because just like other dreams, it takes time to get there, you just don't jump into the American Dream...

To see this any other way, leaves me thinking you are lazy, need immediate satisfaction, or just plain dumb and ignorant.