Why is the traditional American Dream so difficult to achieve now? In the past, homes were affordable relative to average income, allowing people to pay off their mortgages quickly. Today, the cost of living has gone up, but income hasn't kept pace. The housing market is now driven by supply and demand, making homes a commodity that is unaffordable for many. We've also realized that homeownership isn't the only, or even the best, path to wealth.
Can the American Dream become a trap? Absolutely. We discuss how some people become a slave to their dream. The maintenance, taxes, and mortgage can be so demanding that it leaves people "house rich but unable to enjoy life," with no freedom to travel or buy other things.
How do you build wealth in a modern economy? We live in a land of credit, so there are many new ways to build wealth. The number one way is to find a problem and solve it. Another way is to invest, whether through the stock market or other avenues. The goal is to build generational wealth and create freedom.
Watch the full episode at https://youtu.be/RvXFY4EwTkg
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