Adjusting the American Dream

December 10, 2009by

Mark Whitehouse, of the Wall Street Journal, reports on how some of the dynamics of the financial crisis are causing people to re-evaluate the American Dream–at least the home ownership part of it.

People’s increasing willingness to abandon their own piece of America illustrates a paradoxical change wrought by the housing bust: Even as it tarnishes the near-sacred image of home ownership, it might be clearing the way for an economic recovery.

Thanks to a rare confluence of factors — mortgages that far exceed home values and bargain-basement rents — a growing number of families are concluding that the new American dream home is a rental.

Read the full story at The Wall Street Journal