Reinventing the American Dream
As I read the latest real estate news this week, it becomes obvious that real estate values have dropped in many markets throughout the country to levels as low as 2000 prices. The equity people built in their homes is gone. And now economist are admitting that it may be another 10 to 15 years before the price someone paid in 2007 will be back. A generation of wealth lost!
It is amazing how much of our country's economy has been fueled essentially by a false belief in wealth created by a home. They really thought and spent as if the $30,000 projected annual increase in value of their home was real money as opposed to the monopoly money that it turned out to be. They also went out and spent their monopoly money at car dealers, restaurants, the stock market and retailers. The real estate bubble of the 00s was one of the biggest farces in US history.
Finally people are starting to realize that the "American Dream" does not need to center around a single asset that will likely cost more in upkeep than it will ever make as an investment. As we discuss with our residents, a home is a place where you can be part of the community. It doesn't matter if that is on an acre of ground hidden from neighbors or 8 feet away from the elevator. It is up to you to make the American Dream work, not the economists.
At Signature Community we always viewed the economists' and politicians' version of the American Dream as the American Nightmare, so we are reinventing that Dream so it can be attainable for anyone who puts commonsense thought and foresight into their economic decisions. Our version of the American Dream is the creation of community where like-minded people can share space, time, stories, and advice, and sometimes even lend a hand to help each other. Our American Dream is about being part of something much bigger than a McMansion on a lonely lot and is definitely more rewarding than the struggle to make the mortgage payment while still having to run to Home Depot every weekend because something is broken.
At Signature Community we welcome a connection with and between our residents to complete the new American Dream. Our American Dream focuses on people, not property. We look forward to years of the American Dream moving away from what politicians and economists unrealistically perceived values and toward a renter nation where residents feel part of the community and society and live the dream.
Thanks for everyone involved in helping the new American Dream to flourish at Signature Community.
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Nickolas Jekogian
CEO
Signature Community
917-763-3500
www.ASignatureCommunity.com
Blog -http://www.nwjceommm.blogspot.com/
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