The American Dream

The real-estate is a huge market that has many options to offer the costumers who are looking for a place in which they can settle and start their own families. The diversity of choices has made finding a house to buy a very mind consuming, complicated process. This complexity has distracted some house-seekers and led them to buy houses that are not what they want. Buying a house could be a complicated process but you can change that by following some steps.

Many people have come to America for adventure, opportunity, freedom, and the chance to experience the particular qualities of the American landscape. The American Dream is the idea that every United States citizen, including immigrants and residents, should have an equal opportunity to achieve success and prosperity through hard work, determination, and initiative. America somewhat provides access to the American dream, it is more so the citizen who provides access to the dream for themselves. Even though they encountered many trials and tribulations, with persistence, people such as Langston Hughes in “I Too Sing America and Anzia Yezierska in “America and I” they were able to achieve their individual American Dream.

“Real estate is a year-round opportunity to help countless people realize the American dream” (“Why Real Estate”, 2012). Eighty-five percent of buyers believe that home purchases are good financial investments, and a majority of homebuyers and sellers rely on the services and expertise of real estate professionals to assist them with their transactions (Profile of Home Buyers and Sellers, 2010). “The primary job description for an agent is communicating with potential clients to determine what kind of property they are looking for” (Richard, 2012). This means, setting up interviews with clients to see if the agents firm possesses property that meets the client’s specific needs. Once it is apparent exactly what the client is looking for, the agent sets appointments to show houses to clients and many times the agent physically accompanies couples while showing off properties.

Secondly, in the past few years, household debt has increased rapidly. On one hand, it has deep influence on each Australian. With one dollar earned, one Australian is now in debt for two dollars. Australia’s debt for property is just lower than Switzerland in the whole world and doubles as much as America. Compared with the increase of house debt, salaries of Australians have remained steady, which means people’s capacity to repay debt hasn’t improved. Australians have been recorded low wage growth. From January to March 2017 wages grew just 0.5 percent. Over the previous year, wages grew a total of 1.9 percent. From 2011-2016 wages grew just 13 percent (Anderson 2017). Considering price to income ration index, housing affordability in Australia has broadly declined in the past few years. Nevertheless, it’s very easy for anyone to get loans from the bank. People don’t need strict assessment of credit to get loans and the government has some policy like first home owners scheme to encourage house loans. As the interest rate is at the lowest point in history, any boost of the interest rate would cause hundreds of thousands of households under mortgage depress. In addition, the ease to get loans make more house demand, which eventually make the price going up. If people can only use their incomes to buy properties, the demand would definitely not as high as nowadays. The American house crash

In a survey by Mercury News earlier this year (2017) sixteen percent (of 1000 people) listed housing prices as the number one problem facing the Bay Area. This is most likely part of the reason that more millennials are choosing to live at home with their parents in the Bay Area. In a report by NBC News Bay Area, it was listed that 33.3% of millennials in the Bay Area live at home with their parents. This number would be less shocking if there was a high amount of unemployment in the Bay Area but this is not the case. The same article states that only 8.6% of millennials in the same area are unemployed.

The economic decline has possible home buyers, especially first time home buyers, scared to invest anything into the housing market. With the fear of another depression in the back of everyone's minds, some businesses are attempting to clarify the pros of home ownership.

Meanwhile, yearly house price inflation rates in the top 20 cities are running in line with the national trend. The cities with the highest rates of increase are Seattle (+12%), Portland (+10%) and Dallas (+9%). Lower tier property prices appear to be more volatile than their high end counterparts in both Seattle and Portland. Meanwhile, the three cities with the lowest rates of house price inflation are New York (+3%), Washington (+4%) and Cleveland (+5%). Furthermore, rising house prices appear to be having an adverse impact on affordability. According to the National Association of Realtors, rising prices are offsetting higher disposable incomes and stable mortgage rates, and affordability has consequently been declining since January 2015. Partly driving the increase in prices is a lack of available supply of existing single family homes for sale. The number of months’ of unsold inventory was just below 4 in March and availability has been gradually falling since 2014. Additionally, there is a relatively tight supply situation for new single family homes for sale, which is also helping to support prices.

Buying or selling a house or an apartment is one of the biggest decisions of a person’s life. And when selling or establishing a price for real estate, people seek out real estate agents to do the dirty work. A real estate agent has to convince a prospective homeowner that he or she is trustworthy and knowledgeable. In many ways, the agent acts as a counselor to individuals and families about to embark on a huge commitment. Real estate agents have a thorough knowledge or real estate market in their community. They

More middle class and minority families than ever are now underwater in their mortgages, and have zero to negative wealth after the Great Recession that followed the 2000 housing boom (Potts 7). Even those who kept their homes saw their values drop due to the declined neighborhood worth. My childhood home’s peak value was over $200,000, but my parents listed it on the market with the hope of selling for just $175,000 when they wanted to move to lower their mortgage. There were never any foreclosures in our neighborhood, the house is in one of the best school systems in the state, and it had a great location, yet the value dropped more significantly than it had in twenty years. This was a situation many homeowners didn’t know was possible

Many families lost their homes to foreclosure during the recent economic downturn in the US economy. These former homeowners became renters as the national home ownership rate dropped. Many families felt that home ownership would remain out of their reach due to previous foreclosure history. In addition, losing your home and transitioning to renting is tough on your psyche. However, as rental rates continue to increase and the economy recovers these same families now see possibilities of home ownership again. The housing market has characterized the buyers as “Boomerang Buyers”.Approximately 5 million people lost their homes to foreclosure or short sale and become potential boomerang buyers. Quietly, by buying homes again, these buyers

Real estate attorneys also often handle a closing on a purchase”. To work in this business, a person skill list should include persuasion and honesty. In this industry, a skill of persuasion is needed in order to make people buy a home. Also, when buying a house, knowledge about the home is key. A real estate agent must value honesty among many other traits in order to be in the business. A Challenge facing residential real estate is dropping homeownership rates. In the United States, rate of homeownership has declined it lowest in 20 years towards the end of 2014, with of 64% of households owning a home. Tight credit, rising home prices, and slow job growth are problems that continue to make it difficult for many people to buy a home. Also, with advancement of technology, more data, records, and information are being recorded online. This provides security Risks within Technology such as Security breaches. Security breaches “are a risk inherent in the use of information and technology networks”. The range of sensitive data that would harm the business if compromised in a security

The data supporting a slow adoption rate for home ownership by Millennials may be due to financial factors such as increased student loan debt upon graduation or inability to find higher wage jobs to meet debt-to-income ratios or non-financial factors such as job mobility, the ability and

One of the biggest reasons young people don’t want to buy real estate is that they feel they don’t have the time. But in reality you won’t have much time even more so when you’re older as you gain new responsibilities perhaps a family and children which you didn’t when you were

As the economy continues to progress in the right direction former home buyers with a “checkered” past are looking to bounce back and make a wise investment. While it is exciting and thrilling going through the process of purchasing a home, it can also be intimidating and overbearing. It is no surprise that these buyers are apprehensive when it comes to signing stacks upon stacks of papers and taking on another mortgage. Although they do not need to worry because there are numerous options and opportunities out there for them to take advantage of, such as the rent-to-own option or just renting alone.

You must have heard that interest rates on mortgage are at their lowest. There is no doubt that they are declining, lending new opportunities to homeowners to get the financial funding they require. Mortgage has become more competitive and easy to get. Competition among loan lender is rising therefore it has lot of potential for homeowners.