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If the american dream is to purchase a home instead of going around renting, then why do we tell other people about this if its not a guarantee that everyone will qualify to purchase one? While many rent then why do lead ourselves to believe such dream is possible if not everyone even in the u.s. can realistically own much less let actually purchase one?
If the american dream is to purchase a home instead of going around renting, then why do we tell other people about this if its not a guarantee that everyone will qualify to purchase one? While many rent then why do lead ourselves to believe such dream is possible if not everyone even in the u.s. can realistically own much less let actually purchase one?
Try the politics channel. This really isn't a RE topic. Everyone is eligible to buy a home, whether they're able to or can afford it is another thing.
Home ownership isn't the 'American Dream' for everyone. Some people choose to rent for a variety of good, valid reasons.
This is a great answer. I'll just add to it that not everyone can qualify to buy a home, because a lender is giving out a large amount of money, and before they loan large amounts of money they want to make sure the borrower is likely to repay it. If someone has bad credit, that means they have repeatedly failed to back loans and/or pay their bills on time. If they haven't paid other people, they probably aren't going to pay you at some point.
I don't know about you, but I wouldn't let someone borrow money if I knew they are financially irrepsonsible and probably wouldn't pay me back.
OP, like you say, it an American DREAM. It means that if you work hard and save, you would have a chance of achieving that dream. It does not mean anyone can afford a house without working hard and saving money for a long time. The dream is your motivation to get off your butt and do something productive.
And it definitely does not mean that you should be given a nice house for free.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Also, if a person cannot afford to buy a home in the area where they live, they are free to move and buy a home in a less expensive area. People do it all the time, especially now with working from home. It's just a matter of saving up for a down payment, and building your credit score.
If the american dream is to purchase a home instead of going around renting, then why do we tell other people about this if its not a guarantee that everyone will qualify to purchase one? While many rent then why do lead ourselves to believe such dream is possible if not everyone even in the u.s. can realistically own much less let actually purchase one?
First everyone has their own version of the American Dream. Not everyone's dream is to own a home and it's not right for everyone.
Second, it's called a "dream" because it's something to aspire to. For example, if you said "it's my dream to pay for my kids' college tuition so that they don't have to be burdened by student loans" that doesn't mean you're automatically able to do it and not everyone that says that can.
Third, everyone is eligible to buy a home. So, if it's your dream then you can do it. Will you do it is another matter.
If the american dream is to purchase a home instead of going around renting, then why do we tell other people about this if its not a guarantee that everyone will qualify to purchase one? While many rent then why do lead ourselves to believe such dream is possible if not everyone even in the u.s. can realistically own much less let actually purchase one?
Sounds like another post from a "Give me for FREE" generation.
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Home ownership isn't the 'American Dream' for everyone. Some people choose to rent for a variety of good, valid reasons.
