By Betty Dominguez, Via Colori Houston 2011. www.bettydominguez.com
You can probably guess my answer to this question, based on my other writings. I believe home-ownership makes it harder to predict one’s expenses on an ongoing basis, but writer Daniel Indiviglio makes a different set of arguments in this article from The Atlantic.
He asserts that home ownership is made attractive by the tax incentives given by the Federal Government, however it fails three tests required for “The American Dream”
- Capability: Everyone is not capable of affording to own their own home.
- Versatility: Everyone will not desire to own a home, and he gives an example of this.
- Essentialness: Owning a home is not essential to everyone’s happiness as, say, freedom of speech is.
I believe that defining the American Dream without “home-ownership” takes a lot of pressure off young professionals and entrepreneurs today who cannot afford a home. It is a sign of the times, but not evidence that such people are not participating in the American Dream. Just my opinion. What’s yours?
{ 7 comments… read them below or add one }
I’m with you on this one. Not only that – but I’m also one of those people who just never really wanted a house. Not while I live on my own anyway! If I get married, then sure – why not – let’s do the house, wife, kid(s), dog — the whole nine. But under any other circumstance that involves a single sir (that being me), you can cleanse my wish list of anything having to do with a home.
Interesting issue to raise dukes.
Thanks Johnnie. I am not interested in a lawn until I start raising the children that will one day mow it! But I still rethink buying a condo or town home for the same [financial] reasons…
Such a deep anewsr! GD&RVVF
I truly believe its possible to have the American Dream without owning a home. What about being successful in your business endeavors, (whether its your career or entrepreneurship venture), having lots of money that buys you time and choices, having loved ones nearby who can be there for you, and doing whatever you want to do with your money? Now that’s what I call a dream, that can be achieved without owning a home. I stand behind the Essentials test 100%, home ownership is not essential to happiness, but its essential to “stability” in some degree. Nothing more.
I’m not interested in owning a home at this time either, but at some point in the future I’ll have the urge to “settle” in one city and thats when I would likely be interested in buying a home regardless of my martial status. The only kind of home that suits my lifestyle would be a maintenance provided condo or townhome, because mowing lawns, painting, landscaping, etc. poses too much of a burden. I know that I wouldn’t mind having a condo or townhome even when I’m married!
I’ve always invisioned myself (and future family) in my own home. I also thought I would have a home before I have children. But I’ve come realize I probably will not have a home “in time” for children. And I’ve realized, there is no rule that says “You must have a home to have children.” That’s ridiculous. I’m sure my in’laws will be worried when we have kids before a home but, unless they’re buying us the house. It’s just not gonna happen. I would rather have a family and invest in them than a home.
Opps! *envisioned!
Talk about a wake-up call huh? Imagine how many people are in more debt because they never learned that there are no such rules? Many of our generation won’t afford a home before they get married…some will have kids first. Life goes on.
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