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Are we Putting Too Much Stock in the American Dream ?
As a Realtor I bought into the ideas that Buying A Home is the American Dream. After being in business for over 20 years and seeing the ups and downs of the housing market  I think American's have litterally put too much stock into the concept of Home Ownership as the American Dream.
In  February 2013 Bloomberg Busines wrote an article called U.S. Homeowners are Repeating Their Mistakes. The article states the Middle Class has too much money invested in their home. According to Bloomberg Business the wealthiest 1% invest 30% of their Net Worth on their principal residence where the middle class is spending upward to 67% of their Net Worth.
As a realtor we know a home is a commodity but something that is not a liquid commodity. Economist call a home " A Consumption Good". You live in your home and hopefully your home value will grow and it becomes a nest egg for the future.
The problem is buying too much of a home and have too much debt tends to put people at risk. According to Bloomberg, from 2007 to 2010, the median  American household lost 47% of its wealth while the Richest Americans declined only 18%.
Bloomberg goes on to say the ... more

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