How to restore the American Dream: Make homeownership attainable again

Young people are demoralized and turn to the promises of socialism. While socialism is entirely decoupled from reality, young Americans are frustrated, believing that the American dream is out of reach. In a recent survey, nearly a third of millennials and almost 40% of generation Z said they thought they would never have a house.

While wrongly identifying capitalism as the culprit of the ailments of cronyism and central planning, including monetary and fiscal policy which has increased the cost of living, their concerns are real and valid. While in the past, there have been periods with high interest rates with reasonable prices of houses, and periods with low interest rates and high prices of houses, potential buyers today face both.

If a house is the physical embodiment of the American dream, it should not feel out of reach. Here are some suggestions to make the American dream achievable.

Faith in the American dream decreases in the midst of bitter economic feelings, discovery of survey

Reduce mortgage rates through more supposed loans

It is estimated that less than a quarter of mortgages in the United States are supposed. Many house buyers have financed or refined their homes during the Bonanza at interest rate at low interest rate of the Fed and therefore do not want to sell their homes and abandon their low mortgage interest rates. This obstructed the housing market.

In addition, today’s mortgage rates, associated with high housing costs, make houses available too expensive.

The government should work with banks to make more assumed mortgage loans (of course, by ensuring that the assumed party is worthy of credibility, and perhaps limiting this to houses that will be primary residences).

While banks generate significant costs from the origins of the loan, at the moment, the clogged market limits their business anyway. If the assimability of the loans was accompanied by the right of first refusal for the loan institution to refinance the rest necessary for the mortgage, it would be a win-win. Banks would increase the origins and the mixed rate would be lower for house buyers.

In addition, taxpayers have helped the banks a lot, to say it slightly, in recent decades, so obtaining concessions on their side is fairly fair.

Create incentives for smaller imprint accommodation

One of the reasons why the accommodation is so expensive is that we have had a snap in square feet. Today, houses are on average more than double the size they were in the 1950s. According to data from the American census office, the new construction houses were on average 983 square feet in the 1950s, 1,200 square feet in the 1960s, around 1,500 square feet in the 1970s and are between 2,200 and 2,300 square feet on average today, even if the household size has decreased. Note that the median data for the period was similar.

It is a complicated affair. Why would a manufacturer of houses choose to build a smaller house when it could make a larger profit on a larger one for an additional amount of additional work?

This is where tax incentives, both locally and federally, could help manufacturers build smaller fingerprint accommodation which would also be more affordable, especially for young people.

Attach the balance sheets by solving the burden of student loans

Even if a house is within reach of the benefits of a potential house buyer, if he is salted by debt, making a house purchase becomes a non-starter.

The American government is the largest predator lender in the country, sedant in Sellant and young adults with tens of thousands of dollars in debt and delaying their ability to make investments, while enriching colleges and their administrators. Bringing the government out of loans to students and thus making colleges and universities of good -sized education costs for the value of education which will clean the personal assessments of young people and will help make home ownership more feasible.

You can know more about my reflections on how to do it here.

Address the increase in property taxes and insurance

It is one thing to be able to buy a house. It is quite something else to afford the current transportation costs. Land taxes and insurance have become incredibly heavy. It is reported that on average, taxes and insurances represent almost a third of the unifamilial mortgage payments, and for 9% of unifamilial owners, taxes and insurance include more than half of mortgage payment.

There should be an effort, even if it is undertaken at the local level, to resume these costs, or less Americans can never afford a house (not to mention the dubious moral framework for land taxes).

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Address of companies buying single -family houses

This is an area that I have written in depth in my last successful book, you have nothing. Before 2010, there was indeed no institutional money buying unified houses. However, in the first quarter of 2025, almost 27% of the unified houses purchased were purchased by investors, part of that of institutional buyers.

Many companies supported by the institution convert the unified houses that they buy in rental properties, removing these homes from the purchaseful supply and renting Americans in the shade of the American dream.

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Although I hate central planning and I prefer free markets, there is nothing free market in the advantages that give these companies the possibility of obtaining inexpensive capital and participating and competing for unified homes. Costs, taxes or additional limitations, at least until the market is standardized, could be a good way to level the rules of the game for average Americans.

The housing problem can be temporary because the baby boomers will eventually end and sell their homes. However, it is always worth finding solutions today, even in the event of a short term, to make possession of a house a realistic and achievable objective and accessible to workers.