Has the American Dream Been Reborn?
The first goal of a young married couple four or five decades ago was to buy a home.
Renting was viewed as being unsuccessful and wasting funds.
Most couples rushed to buy a home as soon as possible.
Things changed dramatically during the 90's.
Accelerating prices of homes caused less younger couples to buy homes as quickly.
The amount of resources required to purchase became too great.
Coupled with higher personal debt loads, the average age of the first home purchase has increased.
Lower interest rates have caused homes to be more affordable again.
Has the desire to own property been rekindled?
It's too early to know.
Stay tuned!
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Do you have some Personal Finance advice to share or have a question?
You can Write to Us!.
Include your first initial and last name.
I'll try to use your contribution in a future column.
(Please note that these columns are written several weeks in advance so publishing it will be delayed accordingly.)
