Monday, March 3, 2014

Housing News: For more people, the American Dream doesn’t include a home of their own

Owning a home has been pushed as part of the American Dream for the past forty years or so . . . with some nasty consequences a few years back when too many people bought houses they couldn't afford.

Is owning still part of the dream? Or is it now a nightmare they'd rather soon forget?

More from the Washington Post:
For Nina Brown, moving into her second home in an Atlanta suburb a decade ago was an act full of symbolism. 
Homeownership was a way for Brown to prove she could strike out on her own after a divorce. It showed she had the finances — a good job and good credit — to provide a stable environment for her son, Jaylen. Moreover, with housing prices soaring, her purchase of a new townhouse in a gated community was a big step toward building a real estate investment portfolio and nest egg. 
That was before tenants in two of the other three properties she owned lost their jobs and the grand plans she had for her life unraveled. At the age of 26, Brown found herself among the more than 5 million Americans who have lost their houses to foreclosure in the era of the Great Recession. And like many of them, Brown says she is not in a rush to jump back into the housing market. “I don’t have any intention of buying anytime soon. 
The economy is still unstable, and it could end up being a financial burden,” said Brown, now 33. She rents a three-bedroom townhouse in another Atlanta suburb, where she lives with Jaylen on weekends, and a small apartment in the District near Howard University, where she works during the week as an executive producer at WHUR-FM radio.

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Breaking US Dollar Collapse News

What's Behind the Decline of the US Dollar?

This is one the of the best and simplest explanations we have seen:
The U.S. dollar's downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency. - Wall Street Journal, April 23, 2011
Interestingly, the Federal Reserve is responsible for, or an active participant in all three of these factors.