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No longer the American dream not according to a new survey that says 61%.
Of adults -- renting.
Is the new American dream walk us.
If you explain because he agrees with this premise Anthony -- who's a frequent guest on realistic in the front runs it on real estate company.
Make the case renting is the new American dream -- Well let's talk about the old American team what exactly was it.
Getting a predatory loan and not having all -- yeah I asked often what -- -- you get a piece of the action you get a tax break and you get the chance of rising with the real estate tide over the course of your lifetime that you were in the home.
That's the American dream so let me ask -- but the -- achieving is the key word here no one was achieving all you have to do is just -- -- -- show I did.
I got my first house in 1978 in San Francisco board at the 60000 sold it for a 107524.
Months -- that's the American dream no money down.
You know 20% -- and that's what I'm talking about -- those of all the predatory lending with a no money down it's really what.
Really confuse people but before that that -- it was the American dream -- -- and it was a way to keep up with inflation yes.
All right now you tell me how those renting.
Bring me into the American dream the way -- -- did well I think right now people are afraid to -- I think that there's still has to be some more distance between the recession and what's going on today.
I think there isn't enough distance right now people are still leery -- you on selling your own book.
You are in the real estate business -- sell single family homes don't you know actually on the rental business I I -- and I do sell but mainly our business is -- Soledad you calling up your own book project.
Well I mean it's just what's happening here.
I mean people are choosing to rent a renting an apartment today you'll get more pound for pound dollar -- square -- quality of life -- in my.
At the I can't say I've read just a week ago where in the top 100 markets in this country metropolitan areas it is more expensive to rent -- own.
I mean -- that's shocking instill -- them in your business is booming.
Well it is more expensive.
But it's more lucrative in the end if you'd need the agility to move.
Think about it if you're not sure where your job's going to be within the next two years why do you wanna commit to buying home because they got mobility yeah well I'll give you that yes I you have to -- the property taxes -- you -- to pay maintenance on the properly understand all of that -- I think I could make a financial case.
But you've got no stake in the action.
If the value of that home goes all.
And you've got to believe that from these baseline prices -- gonna go off a little bit catcher you're absolutely gonna go up a lot of it because if you -- only if -- -- hold.
I'm hole and you get no tax break if you're a Renton not whatsoever and somebody that plays -- that -- two income family that desperate for a tax break.
But -- rental system doesn't give it to them but they don't -- -- -- that's really what it is that this these -- they're strict rules and regulations not by because that's what it comes down to it comes around you'll people who -- can't get the 20% down.
Even if they want to -- that can't get -- if that's the crux of your argument that's the crux.
It's been really don't -- to stand of gas million.
The Obama administration's really talking about now pushing banks to make these loans like 3% down.
You you for against that I'm -- I think that anything that's -- -- stimulate the economy and create homeownership.
I think -- that's a slippery slope that led us to the disaster you're describing at the beginning in the interview that is correct but sometimes when you recover from a heart attack you a little bit more careful about what he.
If this guy is playing both sides -- offensive not a great hotel one -- -- -- -- got that -- look okay thanks for spelling it out horizontally because I think you make a valid point I disagree with it.
I think the American dream is ownership.
Not -- But as long as -- business is booming in the right to set sect that go for a young -- thanks so much happening appreciated thank you want to go there.
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