Is owning a home still the American dream?

Is owning a home still the American dream?


DAGEN: REAL ESTATE IN FOCUS, LOW MORTGAGE AND UNEMPLOYMENT RATES SHOULD BE THE FARM LA FOR A THRIVE — FORMULA FOR A THRIVING HOUSING MARKET. THE ON T SIT IS ACTUALLY HAPPENING. MANY AMERICANS ARE HAVING A HARD TIME BUYING A HOME. JOINING ME RIGHT NOW IS REAL ESTATE OWNER ROGERS HEELY. WHAT IS HAPPENING HERE, ROGER?>>WELL, I MEAN, FIRST OF ALL, IT’S NOT HAVING A NEGATIVE EFFECT ON THE REAL ESTATE MARKET. IT’S GOT PEOPLE TALKING AGAIN. SOMETHING THAT PEOPLE DON’T MENTION IS THE TIME OF YEAR THEY GO AND DECREASE RATES. OBVIOUSLY, THE JOB MARKET IS CONTINUING TO THRIVE. PEOPLE ARE STILL REALLY HAPPY IN AMERICA. BUT THE WAGES HAVE NOT CAUGHT UP YET WITH THE PRICES OF THESE PROPERTIES AND ON TOP OF THAT, SOMETHING THAT NEVER GETS MENTIONED ARE THE CYCLES OF LEASES. PEOPLE NORMALLY RENEW LEASES IN MARCH, APRIL, MAY AND JUNE. SO IF RATES ARE LOWERED IN AUGUST OR LATE JULY, THEY’VE KIND OF MISSED THE BOAT. SO IT’S NOT NECESSARILY A BAD THING. IT GETS PEOPLE TALKING. BUT A QUARTER POINT DIP IS NOT GOING TO CHANGE THE REAL ESTATE MARKET AND GET EVERYBODY OFF THE COUCH AND READY TO MAKE A MOVE.>>GOOD MORNING, MITCH ROCHELL. WE OBSERVED THAT IT SEEMS LIKE THE I WANT TO RENT VERSUS BUY IS SOMEWHAT SECULAR AS OPPOSED TO CYCLICAL. WHAT YOU WERE TALKING ABOUT SEEMS CYCLICAL. SEEMS AS THOUGH IT’S SECULAR, WE JUST DON’T WANT TO OWN A HOME, WE’RE HAPPY TO RENT. IS THAT SOMETHING YOU’RE OBSERVING AS WELL?>>IT’S STILL THE AMERICAN DREAM. SOMETHING I STARTED TALKING ABOUT A COUPLE YEARS AGO, THE RULE OF REAL ESTATE USED TO BE LOCATION. THAT’S WHAT USED TO BE EVERYBODY WANTED, THEY WANTED TO BE IN THE URBAN CORE. NOW IT’S SHIFTED TO AFFORDABILITY. YOU SEE PLACES ON THE OUTSKIRTS, THREE OR FOUR LAYERS AWAY, THOSE PLACES HAVE THRIVED, ESPECIALLY RIGHT NOW WITH INTEREST RATES. PEOPLE DON’T WANT TO RENT. THERE ARE STATISTICS THAT SAY PEOPLE ARE RENEWING LEASES MORE THAN THEY EVER HAVE BEFORE WHICH MEANS THEY’RE NOT POPPING TO ANOTHER RENTAL, MAYBE THEY’LL STAY LOCKED IN AND SAVE MONEY. I THINK EVERYBODY WANTS TO OWN THEIR OWN PROPERTY. COMMERCIAL REAL ESTATE AS WELL. BUT IT’S STILL TOUGH RIGHT NOW TO SAVE MONEY WITH THE COST OF REAL ESTATE BEING SO HIGH. DAGEN: LEE?>>ROGERS, I HAVE A QUESTION. DO YOU THINK ANY OF THE SLOWDOWN IN REAL ESTATE HAS TO DO WITH PEOPLE’S INABILITY TO WRITE OFF TAXES THE SAME WAY THEY USED TO.>>AGAIN, THE SLOWDOWN, IT’S LATE SUMMER. AND THIS ALWAYS HAPPENS IN LATE SUMMER, THIS HAPPENS IN MID-WINTER. PEOPLE RIGHT NOW ARE FOCUSING ON PREPARING FOR THEIR TAXES, PREPARING FOR KIDS TO GO BACK TO SCHOOL. THEY SPENT A LOT OF MONEY ON SUMMER VACATIONS. JULY IS PROBABLY THE BUSIEST MONTH OF THE YEAR FOR PEOPLE GETTING OUT OF TOWN FOR MORE THAN SEVEN OR 10 DAYS. THIS IS A CONVERSATION WE HAVE EVERY YEAR. AT THE END OF THE DAY, THE MARKET IS STABLE. IT’S NOT AS BUSY AS IT IS IN A TRADITIONAL SPRING MARKET.

69 Replies to “Is owning a home still the American dream?

  1. It's hard to save money for the down payment but once you save money for the down payment it all depends on your past Financial record I had zero credit I had to cell phone bills become bad credit now my credit is bad and Banks don't like bad credit doesn't matter if I can pay for it or not but because the cell phone companies ripped me off and I quit using their service didn't want to charge a $500 disconnection fee but yet I'm poor and on Social Security my wife and I want a home but not until I'm about 45

  2. Come on, get real, you never own a home, it owns you. American dream is a nightmare, so many people living in their cars and on the streets. Prices are out of control and its a bubble waiting to pop again.

  3. Try to buy a home in Australia, politicians have destroyed the way of life, we should have the best and cheapest lifestyle in the world.

  4. If anything, we should be rooting for a housing market crash. That's the only way housing prices will drop significantly & fast enough to become affordable.

  5. If you get away from California, New England, NY City and Chicago, housing is very affordable. Never could figure why people want to live so crammed together and pay those exorbitant prices. But, to each his own.

  6. My daughter has a Masters degree and is a Teacher. She could not qualify for any home where she lived. When the average home is 500 thousand! Pretty sad that a person with Masters degree cannot qualify for more than 300k!

  7. BULLCRAP,,,,, IF YOU THINK THIS IS THE AMERICAN DREAM THEN YOU REALLY ARE THE ONE ASLEEP…. NOTHING BUT HIGH TAXES AND INSURANCE ON HOME OWNERS. THIS IS WHY EVERONE IS GOING TO TINY HOMES AND RV…. THE GUY ON HERE IS AN IDIOT AND THIS NEWS MEDIA IS JUST AS DUMB…

  8. American dream?
    What's this STUPIDITY? American home dream? HUD is giving pretty-fabricated NEST to the birds/chicks that ARE imported/transported and fly BY during MATING seasons and CLAIM the citizenship because making family on the soil and unmatrimonially?

    Chicks are like FLOWING stream like water flows IN direction of DEEP LOW landscapes. According to LAW a Illegal bird is a fly by like shooting star and with having shooting RIGHTS the chicks GET shot in the season and becomes Kentucky FRIED chicken with BARBECUE suace.

    So are the Census. All ILLEGAL flyers and FOREIGN seeds upon USA soil with UNMATRIMONIAL ~© {} Mating will BE deemed to BE PROSECUTED and DEPORTED OUTSIDE USA. And those Nationals will be BANNED from trade/commerce and INTERCEPTED when enters USA air space. Keep Your eggs in Your nations. Mate in Your own nation. Labor in Your own nation. Give Your own nationality and NOT USA.

  9. Housing is ridiculous. When you go to buy it's oh the market is hot you're not going to find a lower price. You go to sell and it's well its a buyers market there's so much for sale you're not going to get that price. …

    The cost is the problem. The interest rates the taxes and the insurance.

  10. Is owning a home still the American dream ? Sure it is . If you don't mind getting yourself into $300,000 Plus of Debt just for a Starter Home ?

  11. The Federal Reserve, a private-global banking cabal, NOT a Federal agency, manipulates the banking, industrial, the stock market and interest rates to suit itself money wise. The cost of housing is also manipulated by the FR and the price keeps going up and will continue to go up. FYI, the entire-Western economy is controlled by the FR and we're all slaves to it.

  12. House prices are as high or higher than they were before the housing bust. Wages have not caught up with the rise in house prices. Houses are a big commitment and a lot of people working today just don't know where they will be in 2 or 3 years. Home ownership was big among blue-collar workers back in the 50's and 60's because they stayed in one job and in one place for a long time. That's no longer the case for many workers today. Renting, leasing just makes more sense for more of today's workforce. It's a huge pain to buy a house and to sell one as well. It may be more economically "smart" to own a home but if it isn't under the right circumstances, it can be "not smart" as well. Older homes too have become money pits with thousands of dollars in repairs and on-going maintenance not to mention property taxes. Even if you pay cash for a $400k house, you will probably be paying $20-30k per year in taxes, insurance, repairs and maintenance. And if you have to move, you will be forced to spend money to sell your old house including commissions, updates and fixes to bring it up to code and all the time and hassles involved. We still push traditional home ownership but we no longer live in a traditional economy. Houses need to be easier to buy and sell without the high expenses. Home ownership can be great but if you are buying and selling every couple of years, you eat up your equity in costs of buying, selling and moving. A nice apartment on a month-to-month lease can be a much better option for those who move every two or three years and don't want the headaches of home-ownership.

  13. Umm…lets see, the oligarchy has taken over everything and made he ridiculously unstable and expensive assets to own…so they can own them all…such that they can completely control your life at a level that Stalin could have only dreamed about…

  14. Owning a house is not the Anerican dream any more, sad when the city, county and State load every levy on the home owners property taxes like police, library, human services, community colleges and the list goes on and on. We pay paramedic and fire department and when we need an ambulance we we a bill of $1000 or more 😥

  15. Fox shows stupidity again. Whenever the economy begins recovery from a Democratic Party looting binge, real estate lags. The reason is people are choosing mobility in order to chase the job market. This recovery cycle is more extreme because a huge
    segment of the labor force is fleeing Democrat controlled states. The employment landscape is really interesting this time.
    It is a shame Fox is too lazy to do any research, like the rest of Fake News, Fox does not do any research.

  16. Owning a home was never an 'American Dream'. The dream was made up and propagated by marketing and sales to get people to buy into the hype.

    There are people who should never own a home because they are not responsible enough to maintain the home after the purchase.

  17. Rent or but doesn't he mean rent for 10 to 20 years with the fear of losing it all then u own it for about another 10 to 20 then die

  18. You know what it would be cheaper for me to get a house month to month than the apartment I am renting. The problem is I can't get a loan high enough for a house. It's sad that my rent is more than a months house payment. I would be in a better place right now and could be working my way up but the price of my apartment is holding me back. It's almost like they don't want me to move up.

  19. It’s the prices, dummies. You can cite timing or rates or whatever. The prices have been falsely inflated while wages have not. It’s so simple and all these real estatists don’t want to hear it.

  20. Hmm, buy a home you’ll pay hundreds if not thousands of dollars in property taxes on each and every month long after you’ve finished paying it off? No thank you. Happy to rent, saving for my retirement and being able to get up and move whenever I want. 💵💵💵💵💵💵💵💵

  21. The biggest scam ever perpetrated by predatory lenders is the variable rate mortgage. They preyed upon people especially minorities and lower income. They made people feel safe like there payments would never go up and it was completely secure. Then when enough of these mortgages were issued and insurance was purchased by these institutions through AIG and people made years of payments the banks in concert with the federal reserve arbitrarily raised the interest rate. When people’s mortgages went up by hundreds of dollars and could not afford the homes anymore the banks got the homes back, a check from AIG on the failed mortgage and trillions of dollars in taxpayer money. It was a win,win, win for the banks. My advice is never fall for the variable rate mortgage scam and don’t be pressured into getting that type of loan just to qualify.

  22. How can anyone say they own their home after paying it off?… Tell you what stop paying those property taxes for a few years see who ends up with your paid-off house!…you still pay the state rent once a year.

  23. Ta think we went for independence because of taxes on tea!..Today we get taxed for everything taxed when you earn it, taxed when you spend it, taxed for owning what you paid for, taxed when you sell it..now they want carbon taxes on the air you breath because companies polluted to make money off you. People, we are all just slaves.

  24. Owning a home is overrated. If you get behind on your taxes in a catastrophic event , YOUR so called home is gone. Especially at an older age. Is it really yours? Motor home for me.

  25. Because who the hell wants to pay School taxes that are 4x the Property taxes? And multi property owners get the 2x 3x penalty. As they pay school taxes on all of them. Not just their primary residents. So renting a home out is passed onto the renter. Why I sold all my property. The city would just vote the raise these taxes. To help pay for their Premium Medical. Pension Funds. etc….Hey your house is now worth $800,000.00 when you paid $300,000.00 for it 4 years ago.. And good luck having it appraised. You have to use their "Appeaser"

  26. It will ALWAYS be the American Dream to own your own home! It is just about EVERYONES dream! They only time they say that people want to rent instead of own is when the housing prices are so high that the average person cant afford to buy! What a bunch of liars!

  27. Of course not, these young people do not want to take responsibility for anything, all they want to do is blame. Blame everyone and everything for their inability to commit to anything but hate and division. They’d rather blame the homeowners than BE the homeowners!

  28. The American dream is supposed to be that if you work hard and save your money you can make it in life. American dream is not owning a home. Owning a home is one of the benefits of achieving the dream.

  29. It's getting harder and harder for Fox to keep up Trump's charade. 🤣 Serves you right, America. More corporate tax cuts!!

  30. I plan to buy a van and convert it into my home. License plate taxes are far cheaper than property taxes and I'll always be mobile..

  31. It's the dream broken. destroyed. Evil Dems and RINOs destroyed America and the American dream. Trump steps in to try to restore America and the American dream and fake news radical MSM pounce on him constantly. They too want American ruined.
    Example; Corrupt Congress did away with FHA assumable back in the late 80's.
    Example 2; Dems are pushing for open borders ..where they give everything to illegals coming in the gate. city dwellers know that illegal aliens rent a house or an apartment and pack it full with 20 or 30 other illegals ..so the property owners up ALL the rents on their property forcing American citizens out of the market.
    Example 3; realtors deliberately hide any left over FHA assumable s from the market and keep it for themselves. I've had that pulled on me twice. Dont think there are any left now but the one's that were in the last 10 yrs .. the realtors blocked the sale. And kept it for themselves as an income property. They're not supposed to do that but they do what they want there's no one to do anything about it.
    Example 4: builders raise the price thru the roof when they are developing a housing neighborhood. instead of using the standard 4 x the amt of cost and labor they jump it up to 8 even 12 x the amt ..
    In part it could be because this town's evil politicians like to throw moratoriums on builders after they have purchased all the necessary permits and submitted the plans etc. and break ground. Then the greedy city council throws on moratoriums … and the builder has to go pass around a lot of sweet money to the evil politicians in order to continue the project. But the builders like to get greedy to.

    So single family's homes are out of reach of the American people. The Dems and the RINO's are laughing all the way to the bank.

  32. This "homeownership as dream" is all Neo-Feudalist Corporate-Libertarian and Socialist propaganda. Homeownership used to be common here and we used to dream of a hell of a lot more than mere security. When I was growing up it was implied you would be able to get your own house with a reasonable mortgage after about ten years in a good full-time job, but now those are gone, too. How else do you explain all the media we grew up with from the decades before the Great Recession urging young people to move out away from their parents when they hit 18 if not for that opportunity for independent homeownership being there, common, and to be counted on? If we're reduced to a manorial wasteland and the people are mere vulnerable tenants like in every other country, how can they claim we're really that much better off anymore? How can they justify the increased responsibilities our people bear "because of all the wealth we have here?" This is a disgrace our authorities allowed this country, which should be the best in the world, to degenerate like this! My grandparents lived in a paid-off house and they previously suffered the Great Depression! Then my parents did far worse than them, struggling to this day, and God-knows where I'll be barring divine intervention. This rationally means either we have suffered economic disasters WORSE than the Depression, or our authorities and companies have been screwing us massively because otherwise it makes no sense that people who came from the Depression would be doing better than their children who never suffered such a catastrophe! The American People don't want this and it wasn't ineptitude, ignorance, or laziness on their part that caused this. No, it was the mismanagement by our authorities Left and Right and their corruption and their political-economic-religions like Corporate-Libertarianism and Socialism robbing the American People blind! "The spoil of the poor is in their houses!" Let's make the American People secure again so we can Make America Great Again!

  33. The affordability gap continues to widen. It's tough to come up with a down payment. Americans change jobs more often than in previous generations. The changing dynamic of getting married and having children means that millennials are staying at home longer and delaying the purchase of their first home. In 2018, student debt in the U.S. hit $1.5 trillion and has become a burden on millennials trying to enter the housing market.

  34. Property taxes are probably a lot of reason for the decrease in the desire to own a home. My last home had the taxes going up the max. amount allowed without a hearing or justification. When we look at the tax on line now, 16 years later I would not be able to pay the taxes. I would have been taxed right out of it. This is combined with the school tax and both are a completely unfair tax for people who are retired and living on fixed incomes. They have worked hard all their lives, paid their taxes and they no longer have children in school. These taxes should go away at Social Security age. Nobody deserves to lose the home they worked all their lives to have because the taxes are made non-affordable. I still pay property tax but I am living in a different area of the Country and the taxes are more reasonable. Still increasing but more affordable.

  35. It's a bank's dream, not residents' to instill in masses mind an idea that they need to buy houses at unreasonably high prices.

  36. No matter how "hot" it is. Nobody ever qualifies anymore. Especially in California. Banks are just not giving loans out anymore. Period.

  37. This is what happens when the government subsidizes consumption and you allow mass immigration. The price of subsidized goods and services always go up and up and up. It doesn’t take long before the value of what you’re buying doesn’t warrant the price.

  38. Most Millennials are becoming aware of the benefits of minimalism and foregoing starting a family, because personal freedom is of primary importance to happiness.
    They don't need marriage or a family to be happy.
    They don't need material wealth or conspicuous consumption to be happy.
    The fewer things that you own, the fewer things that own you.

Leave a Reply

Your email address will not be published. Required fields are marked *