Persuasive Essay On Owning A Home

In fact, “During the last ten years, the nation’s rate of homeownership has steadily fallen from nearly 70 percent down to just over 64 percent” (Romerdahl). Homeownership has been seemingly inseparable from the American Dream, yet statistics are now showing that less people are interested in owning a home. Until recently, government intervention has been raising the percentages of homeowners in the US, but percentages have been steadily falling even with lower interest rates and continued effort from the government. This evidences that not only is the American Dream changing, but it is not clearly defined in the first

“The American Dream” of homeownership is still a central ideal of American culture but for Millenials it is a dream worth deferring until their own personal goals are fulfilled. More and more millennials are hesitant to invest in owning a home as they pursue entrepreneurial, educational and professional goals before having children and expanding their living space.

It seems that over the decades, the “American Dream” has changed along with the generations who follow it. After the “Great Recession”, the housing crisis which triggered a financial crisis, and millennials have changed their point of view about homeownership. This change created another definition for the “American Dream”, because more opt out to rent versus buy, and some don’t bother with houses at all and prefer to live in apartments. This is all due to rising student debt, risks associated with owning a home, and the fact that homes are often suited for families and it’s been proven that millennials are pushing back the age for conceiving children.

Bernie Sanders once said, “For many, the American dream has become a nightmare”. The American Dream is a cultural belief that anyone can achieve prosperity through hard work and determination. Millennials, however, are having a hard time achieving the dream as quickly as prior generations were able to. Home ownership rates for Americans under 35 years old are at a record low. The Millennial generation, those born between 1981 and 1997, is the largest in the United States’ history. According to a 2017 Harvard study, only 31% of Millennials own homes. This could be attributed to numerous factors such as student loans, later marriage, and the housing crisis of 2008. While putting off owning a home has its benefits, there are also several cons that come along with it. Are Millennials unable to attain the “American Dream”, or is the generation simply re-defining it? Certainly, homeownership is a complicated aspect in the lives of American Millennials.

He contributes the stagnation of housing market, “America is not moving” in his own words, as an essential contributing factor to the upcoming housing crisis besides in lack of construction (2018). In particular, he sheds light on the statistics that a great number of US homeowners (79%) do not have the plan to relocate themselves in the upcoming years in which might intensify the extent of the housing crisis (2018). Thus, Kline concludes that since there are only insufficient amounts of new housing being introduced to the market, it emulates the difficulty for the new young buyers to become a homeowner (2018). With that being said, Kline’s statement is in line with the homeownership statistics published by the US Census Bureau (2018). With the statistical component for each age group of homeownership remains unchanged during last five years, householders age 65 years continue to be the largest constitute body in home ownership

Homeownership is a double-edged sword. It is the “American Dream” to one day own a house. Compared to their predecessors, Millennials are seeing the advantages and disadvantages of homeownership at an earlier age.  These early generations believed owning a house was the cherry-on-top to being an all-around American and achieving the “American Dream”. As a cynical generation who grew up with information at our fingertips and the world falling around us, millennials see homeownership differently. “The cautious and conservative approach to home buying displayed by millennials is driven by the fact their outlook on life was shaped by a number of bad things when they were young—the terrorist attack on the World Trade Center in 2001, the 2008 financial crisis, the housing bust with mass foreclosures and a weak recovery that has so far provided incomes below that of prior generations” (Stowe England, 36). We learned that the world was not fair and that it is time to redefine the “American Dream” to reflect our current economic society.

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We've all seen those movies of those lazy individuals we call millennials. These people are often depicted as dependent individuals that are either living with their parents or renting some shady apartment. That's the question has been proposed whether or not are they justified in doing so. It is obviously easy to say that they have a right to do so, but can it be considered rational in the days we live in. Are their benefits from withholding to buying a house. And maybe even this could be the redefining of the new “American Dream.”

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Whether you are a private investor or a bank, taking maintaining a foreclosed property is tedious. Many homeowners may feel emotional about losing their home. As such, they aren’t in favor of leaving their old residence in tiptop shape. In many cases, foreclosed homes require extensive work that goes beyond cleanups, which is one of the many reasons you should leave the heavy lifting to a professional.

Assuming Millennials can overcome the financial factors working against home ownership, then they must look at the non-financial factors – which are equally as rough to navigate. Start with job mobility. If a Millennial is lucky enough to find a well-paying job that will support student loan debts and a mortgage, the job is likely non-entry level within an organization. The job may require frequent travel which would decrease time available to maintain one’s house. The job may require relocation – which can be costly if the company is not picking up the cost (and fewer companies are these days). Additionally, technology is creating a more mobile work environment – meaning employees don’t necessarily have to live near their places of employments any more. Work today from your timeshare in Florida and tomorrow from your parents’ spare bedroom. Mobility makes it almost silly for

Why Are So Many L.A. County Home Buyers Choosing Homes Near Urban Eyesores and Freeways?

I'm arriving in the US on Aug 26th, and I'm looking for a room for $500-800/month located no more than 30 mins from NJIT. Probably you know someone who is looking for a roommate or a rental agent who can help me with this. Also, if you don't mind, maybe you can advise me a district where most of the students prefer renting apartments and why.

To be sure, the American Dream is alive and well. However, with Millennials comprising the largest demographic in the U.S. and not yet having embraced home ownership, only time will tell if housing will play as large a role as it did in years