Interesting article that comments on a new trend in the US Housing market. Many Americans are moving away from the "typical American dream" that included aspiring to own your own home. Due to the housing market crash in recent years, many Americans are starting to feel that it is not always the best investment to buy your own home and are preferring to rent their living space.
This to me is a very interesting trend that is only beginning here in the US. I predict that in 15-20 years, the US will be more similar to Europe in terms of home ownership aspirations. Many in Europe (especially the large cities) live in apartments for their entire lives, due to the high cost of housing vs. an annual salary and the difficulty in getting mortgages/loans to pay for the balance. As this article debates, in the US it has not been always about the financial ability to own your own home but also the mindset of US society. In the US, home-ownership was something that the majority of families aspirated to do sometime in their lives. In Europe and many parts of the world, home-ownership is not as infused in the societal mindset.It will be interesting to see if the US mindset changes temporarily for now or permanently.
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