The "New" American Dream...It's No Longer Simply Homeownership
Once upon a time, the American Dream was simply becoming a homeowner. Since the real estate market crash, I think that the term "homeownership" has become a bit muddled. Can you really reap the benefits of homeownership if you owe 150% of your home's value? What if your monthly payment is twice as much as market rent for a similar home? That's not a dream I'd like to have. Personally, I think that should be called the American Nightmare.
Anyway, here are a few components of what I think should be a part of the "New" American Dream:
- Own everything you have. Buy nothing on credit, so it doesn't matter whether or not the credit bureaus continue to exist. If you can't afford it, live without it. Live within your means. When it comes to housing, this may not be easy (depending upon prices of homes where you live) but perhaps downsizing would make it more affordable.
- Be self-sufficient. Grow your own veggies, herbs, fruit trees. If you can, have some chickens for eggs and cows for beef. Get a photovoltaic solar system, so you're not at the mercy of the rising energy rates. The less you have to rely on others, the better off you'll be.
- Prepare for disaster. This not only means having an action plan for your family in case of emergency, but think how you will survive if you could not go to a grocery store for a month or longer. Stockpile canned goods, buy freeze-dried emergency food kits, think about getting a rainwater filter system, consider a solar powered generator and make sure you have a long-lasting supply of all your essentials.
I think anyone who is fortunate enough to accomplish these things is indeed living the American Dream!
BOB & LEILANI SOUZA
Real Estate Investment Specialists
Southwest Placer County, CA
Bob Souza - 925.513.3400 - email@example.com
Leilani Souza - 916.408.5500 - firstname.lastname@example.org
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