How Wall Street Is Killing the American Dream

Single-family home ownership is under assault by ultra-wealthy investment firms

"The American dream is about ensuring that all children, no matter how poor their parents may be, have an opportunity to be mobile by climbing the economic ladder, and moving into a higher income group," sociologist and Stanford professor David Grusky said. mdmilliman/iStock

Commentary

The biggest single aspect of the American Dream is owning a home. Not only is a single-family residence (SFR) the single biggest investment most Americans will make in their lifetimes, but home ownership also is a way for people to move within the American economy. Lower-priced starter homes help people get on the real estate ladder and move up into larger homes, if they desire, as their incomes, wealth, and savings increase.

In short, homeownership has been the key to people entering the middle class.