It's Official, The American Dream to Own a Home Is Dead...
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 19 March 2024
⏱️ 43 minutes
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Summary
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Visit Ken's Bookstore: https://kenmcelroy.com/books
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: https://mccompanies.com
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DISCLAIMERS: Any information or advice available on this podcast is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this podcast. Consult a financial advisor or other wealth management professional before you make investments of any kind.
Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this podcast are accurate and up-to-date, all information contained on it is provided ‘as is.’ Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this podcast. Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites. All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate.
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Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast. |
| 0:02.8 | Let's get right into this episode. |
| 0:04.6 | Welcome to the Ken McRoy Show. |
| 0:06.0 | I'm your host, Danielle, here with Ken. |
| 0:07.9 | What's up, everybody? |
| 0:08.9 | So did the American dream just die, and who is at fault, is what we are going to be discussing today? |
| 0:15.3 | No question it asked. |
| 0:16.8 | Yeah. |
| 0:17.3 | So, Jerry, why don't you play the video we have? |
| 0:20.5 | Your argument that the American dream is based, is dead, is based almost entirely that youngsters can't afford to buy a home. |
| 0:29.3 | Have I got that right? That's why you say the dream is dead. |
| 0:32.5 | That is, I'd say that's at the top of the list. I think a staple of the American dream is home ownership, |
| 0:37.7 | and that's been true for the past 50 years. And for the first time, starting in 2023, this is very |
| 0:43.3 | significant. The middle class income, the median household income, can no longer afford the average |
| 0:49.8 | house in this country. They cannot qualify for the loan. This is the first time this has happened |
| 0:55.1 | in 50 years. So that's a significant problem. So this is interesting, right? Because, you know, |
| 1:00.5 | everyone looks at how home prices have went up. But for those that don't own homes yet, |
| 1:06.3 | this is problematic. This is horrible. Mm-hmm. |
| 1:17.3 | As you guys know, a lot of times we buy these deals, we're buying for rentals. |
| 1:19.6 | Most of you are buying for rentals. |
| 1:21.0 | You're trying to grow passive income. |
| 1:24.8 | So if you've already been in the game, you understand how this works. But the end of the day, day in my opinion rent is supposed to be a stepping |
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