Americans Are Dreaming of Pricier Homes -- and That's a Problem
Owning a home has long been the American Dream. But, apparently, not just any home will do. In a new study by Discover, American homeowners said that in order to feel successful, they'd want a home worth roughly twice the value of their current one. Specifically, the average respondent's home was worth just over $203,000, yet his or her dream home was valued at over $408,000. Some people, in fact, said they needed a home worth almost three times as much as their current property to feel like they've made it.
Clearly, this line of thinking is problematic on several levels. From a philosophical standpoint, whatever happened to being happy with what we have? But I'm not here to talk philosophy or gratitude -- I'm here to talk money. And the fact of the matter is that there are 39 million Americans out there who can't actually afford their homes.
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Source: Fool.com
