There’s a moment in the homebuying process that always stands out for me.It’s at closing when, after countless pages have been signed, my clients take their new keys and start the next chapter of their lives.
I’ve helped clients buy and sell thousands of properties during my real estate career.Yet that moment never loses its meaning because it’s the embodiment of the American Dream — of unlocking opportunity and a brighter future.At the 250th anniversary of our founding, however, the path to homeownership has grown far harder than it should be.
From inventory to insurance and regulatory hurdles, there are very real affordability barriers preventing buyers from entering the housing market.Making the 21st Century ROAD to Housing Act a law is a massive step in the right direction, but there is more work to do, and we need to maintain momentum.Homeownership puts families on the path to intergenerational wealth, strengthening our economy and the social fabric of our nation.
The most important part is to now act on the opportunity.THE AMERICAN DREAM NOW COMES WITH A ZIP CODE: HERE'S WHERE STARTER HOMES ARE STILL WITHIN REACHAmericans across the board increasingly recognize the importance of homeownership.A recent national poll of voters commissioned by NAR found that 85% of respondents say owning a home is part of the American Dream, up from 79% who were asked that same question in 2013.
It’s understandable why: homeowners have 40 times the net worth of renters.In fact, home equity and retirement accounts represent over 60% of American households’ net worth.Homeownership keeps getting more difficult and now can get put off for many years.
(Kurt Knutsson)Yet, too many barriers to homeownership exist.Sadly, this isn’t new.
My father had to contend with redlining and discriminatory covenants, conditions and restrictions.But his persistence in the face of prejudice laid a groundwork of intergenerational wealth through homeownership and real estate inves...