In the 60s, the American Dream was reinterpreted to include–along with world peace and Beatles records– the ability for everyone to own their own home. Over the years, this dream was realized by millions of Americans. Around 2000, financing became easier than ever and our cherished ability to buy was overused. Because not everyone could realistically afford their own home, many found themselves buried under piles of debt.
In a recent Money Class on KQED, Suze Orman advised that we need to learn to live below our means, not within them. This means focusing to pay off credit cards, car loans, and high mortgages. According to her, our weak economy is a sign that we need to rethink our values. She believes we have to once more reinvent the American Dream to center around family values and simplifying our life.
Orman recommends individuals take the time to plan how and where to invest their money. In today’s real estate market, an individual needs 20 % down, ideally 8 months of emergency funding on reserve, and a plan to live in their home for at least 10 years said Suze. To live the New American Dream we need to stick around in our home for a while, and simply simplify.
At the Ildiko Pali team, we believe the New American Dream really isn’t that different from the old one. Real estate has always been a long-term investment, it just needs to be an investment that makes sense financially. For those that can afford it, right now is the best time to buy while the market is saturated with low priced listings and low interest rates.
Our goal is also to help our clients simplify their lives when they are overextended, overwhelmed, ready for retirement, or just needing a change. Our team is expert at getting rid of negative equity by negotiating short sales, discounted payoffs with lenders.
Are you ready to simplify your life and realize your New American Dream? Let us help! Email email@example.com.
Be sure to check out our blog next week for the Top Five Must-Read Tips to simplify your life!