HOW HOMEOWNERSHIP BECAME AN AMERICAN TRADITION
The economic ideal of the American Dream dates back to the colonial period, and homeownership has always been an important tenet. The American Dream is a mixture of prosperity and quality of life, an ethos that promises great rewards through hard work.
In the 16th century, people living in the colonies dreamed of moving west in search of a better life. There was a sense of optimism and improvement that often culminated in the acquisition of land.
European immigrants in the early 19th century escaped political turmoil and a despotic regime in Europe to become firm believers in the American Dream. The newly arrived Germans were thrilled to learn that they could acquire real estate without restrictions imposed by the government or the ruling class.
Homeownership became deeply ingrained in the financial system of the United States until it eventually created a real estate industry. Over time, however, homeownership also became a highly capitalistic affair that greatly increased the cost of acquiring property.
Although homeownership is still one of the most important aspects of the American Dream, it has become too expensive for many people. The events that caused the housing market to crash in 2008 resulted in an inflation of property values and rising rents.
But expensive mortgages, tight lending guidelines and steep down payments do not have to get in the way of the American Dream. Thanks to the option of modern modular homes, prospective buyers can more easily attain their homeownership goals in the United States.
Modular homes have emerged as smart solutions for families who wish to attain the American Dream of homeownership. Modular prefabrication reduces the overall costs associated with property acquisition in the United States.
In the end, prefab homes will keep the American Dream alive in the 21st century.
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