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Does The "American Dream" Still Exist?

By
Real Estate Agent with Peachtree Realty Group, LLC 163226

With the downturn in the economy, the real estate market meltdown and the incredibly high foreclosure rates, does the American Dream of home ownership still exist?Home Ownership

Will the lenders change the way of lending to get previous homeowners back into homes sooner?  Or will it be status quo and we become a renter nation, foregoing the dream altogether. 

Will lenders relax guidelines for short sales and foreclosures, or even bankrupcties? 

Something does have to change in order for the masses to qualify again. The recent uptick with sales is showing signs of some strength, but how much of that is investor related? 

I do not profess to have the answers on this, it just seems that something in the lending guidelines would have to change to make a longer term difference in home sales. 

 

What do you think?

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 Serving the Woodstock, Canton, Acworth, KennesawMarietta and Roswell real estate markets for single family homes, townhomes, and condominiums.

 

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David Karp

The Karp Team

Peachtree Realty Group, LLC

Woodstock, GA

404-419-6244 x100

www.peachtreerealtygroup.com

 

 

 

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Comments (4)

Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

To change thing on the long term it will be the length of time it takes to get to America employed.

Jul 30, 2012 01:40 AM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

David, folks have to have somewhere to live, whether they rent or buy. I've heard lenders will be bringing back subprime lending but under a different name. I've also read statistics and polls that the millenium gen are not as quick to buy a home because have high student loan debt, or may have trouble finding a job out of college. I hope some sanity will be restored to the housing market. IMO, we need to go back to old school lending practices: 20% down payment. Thanks for your post today. Have a great week, 

Jul 30, 2012 01:44 AM
David Karp
Peachtree Realty Group, LLC - Woodstock, GA
Woodstock, Marietta GA Real Estate

Tim and Pamela, I agree with you both. Thanks for the comments.

 

Jul 30, 2012 04:15 AM
Linda Urbick
RealtyOne Group - San Ramon, CA
Selling San Ramon Valley - 925-786-5132

David - the American Dream is still alive. This is a cycle. Actually lending got too easy so we are now back to a market where you have to qualify to buy a house - that's okay as there are lots of people who are still buying.

Jul 30, 2012 12:41 PM