American Dream

Becoming a homeowner is a rite of passage in America, while renting gets no respect. But when you look at how we really live, it turns out that, even ignoring the recent crash, home ownership isn't the great deal for our finances that we've been led to believe.

Every parent wants more for their child than they had for themselves. Ideally, each generation should move forward. But it's not a given in America. A middle class upbringing does not guarantee the same status over the course of a lifetime, finds a new study.

More than any other demographic, Latino homeowners were slammed by the mortgage crisis: Two-thirds of total Hispanic wealth in the U.S. evaporated from 2005 to 2009. But as the fastest growing demographic in the nation, they are also well positioned to power the housing rebound.

The death of the American Dream has been greatly exaggerated -- just ask Sofiya Cherni. Since she arrived in North Dakota from the Ukraine 14 years ago, the 28-year-old has earned a college degree, found a good job, and bought and then paid off her first home -- by working hard, spending wisely, and keeping a sharp eye on the numbers.

Nearly 90% of Americans still see owning a home as a key part of the American Dream, but 39% see us in a permanent economic downturn. Meanwhile, Obama has set his sights on closing tax loopholes for businesses and the rich, but the Fed just cut banks a break in new rules on debit card swipe fees.

The American dream of homeownership is slipping further away, as the country's economic woes drag on. Almost 3 million fewer Americans own homes today, according to a U.S. Census Bureau report, compared with the peak in the first quarter of 2005, when 69.1% owned homes. The reason for the...

Headlines in the mainstream media are often notorious for getting it wrong. But in the case of the recent Wall Street Journal story about how renting is the "new American Dream," the questionable premise could be suggesting that the real estate market is finally approaching a bottom. First, some...

It's time to buy a home! That's what I hear several times a week from friends, co-workers and commercials. I've heard the same prediction since I graduated four years ago and signed a lease on an apartment to share with my new wife. We've been living in the apartment ever since, and despite its...

What's your American Dream? Seems today is a good day for thinking about the big picture of your place in the economy. Because if your version of living the high life is driving around in a big car, then your life is getting more expensive every day as the average price of gas hits $4 for the first...