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Missed Fortune – As the American Dream Dims, Keep Your Own Dreams Alive

Posted on | September 7, 2010

The American dream continues to fade.

The ideal of home ownership is slipping out of reach for more Americans everyday, as high foreclosure rate coincides with plummeting home sales.

Recent reports showed that July 2010 home sales dropped nearly 26 percent from July 2009 levels.

Low mortgage rates are not much help in the quest for would-be home buyers.

High unemployment, tight lending restrictions, and the end of the government tax credit for buyers all add up to diminishing opportunity for those hoping to purchase a home –- or even stay in a home.

The ripple effect is what worries economists and Americans alike.

When the recent announcement of July’s home sales hit, the DOW responded by closing at its lowest point in 6 months.

It’s not just the immediate effects, either.

When home sales are down, residential construction declines, which means fewer jobs for builders, a decrease in sales on housing materials, which then affects the jobs that provide and sell housing materials, and more.

What does it take to keep the dream alive for you and those you care about?

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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