The reality of the American home dream

One of the foundations of the American Dream has always been the hope of someday purchasing one's own home. In the past, however, it took nearly a lifetime of sacrifice before most people could afford to do so.

The first decade of the new millennium in America bore witness to a viral explosion in real estate investment, fueled by low mortgage rates and an abandonment of the equity markets. The nation created a new market overnight to continue the necessary growth in the United States and with one simple key: home mortgage debt.

In the blink of an eye, the American consumers, companies and investment markets shifted from an investment practice and equity-oriented philosophy that had characterized the dot-com era to a debt-fueled runaway train with no brakes.

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