The American Dream Resurgent!

[Engyo]

For the few................

Who's buying homes? The rich.
By Les Christie, staff writerMarch 7, 2011: 11:43 AM ET

NEW YORK (CNNMoney) -- The rich are different from you and me: They're buying real estate.

After four straight years of declines, sales of million-dollar homes and condos rose last year in all 20 major metro areas, according to DataQuick Information Systems. On average, these cities saw an 18.6% jump in high-end home sales.

San Jose, Calif., had the biggest market for million-dollar homes, with a 27.4% spike in sales last year; Phoenix saw the smallest increase at just 0.4%.

Meanwhile, sales outside of this price point actually fell 2.8%.

"It hasn't been a good six months for all people, but it was a good six months for rich people," said Glenn Kelman, CEO of Seattle-based real estate brokerage Redfin.

"When Wall Street goes up, rich people buy homes."

Million-dollar homes sales rise nearly 20% - Mar. 7, 2011

Please tell me this is the way we make America a great nation again, because I can't make myself believe it.

 

[9-10ths_Penguin]

The article says that high-end housing sales are up about 20% from 12 months ago, but what about compared to 12 or 24 months before that?

I can't say for sure without better data, but this might just be a sign that sales of luxury homes are volatile. If the bottom completely fell out of the high-end home market with the overall market crash, then this just might a partial recovery.

 

[no-body]

The American dream has always been a crock anyway, you can't reanimate something that never really existed in the first place.

 

[Revoltingest]

The American dream has always been a crock anyway, you can't reanimate something that never really existed in the first place.

Untrue.
I know many who lived it.
Now many are losing it.

 

[no-body]

Untrue.
I know many who lived it.
Now many are losing it.

I guess if you define The American Dream as being successful and materialistic then sure. But The American Dream as presented to the public is a lie, just propaganda to keep the ponzi scheme of capitalism going.

 

[Revoltingest]

I guess if you define The American Dream as being successful and materialistic then sure. But The American Dream as presented to the public is a lie, just propaganda to keep the ponzi scheme of capitalism going.

Your American Dream seems to differ from the popular one.
Anyway, capitalism doesn't require perpetual expansion to thrive.

 

[no-body]

Your American Dream seems to differ from the popular one.
Anyway, capitalism doesn't require perpetual expansion to thrive.

I think the concept of the "American Dream" is a little too complex and full of history to distill into a few short sentences but this is a good summary (from wiki) :

In the American Dream, first expressed by James Truslow Adams in 1931, "life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement" regardless of social class or circumstances of birth. The idea of the American Dream is rooted in the United States Declaration of Independence which proclaims that "all men are created equal" and that they are "endowed by their Creator with certain inalienable Rights" including "Life, Liberty and the pursuit of Happiness."

Like I said, a crock from the first time "all men are created equal" was penned to paper and three-fifths of a person was outside doing the grunt work.

 

[Revoltingest]

I think the concept of the "American Dream" is a little too complex and full of history to distill into a few short sentences but this is a good summary (from wiki)....

I though it was stereotypically a house in a nice neighborhood with a car
in the garage all ready to take Pop to his desk job downtown. When he
comes home, June is waiting with a martini & his slippers, while Wally &
the Beaver are out playing ball in the yard.
Both versions of the dream look attainable...present circumstances excepted.

 

[no-body]

I though it was stereotypically a house in a nice neighborhood with a car
in the garage all ready to take Pop to his desk job downtown. When he
comes home, June is waiting with a martini & his slippers, while Wally &
the Beaver are out playing ball in the yard.
Both versions of the dream look attainable...present circumstances excepted.

A dream based on shallow self gratification sounds more like a nightmare. I'm not going to judge the man whose dreams that is, since in the end we all are looking out to prosper even if only on instinct. But for a country it is a **** poor excuse of an ideal.

 

[Engyo]

A dream based on shallow self gratification sounds more like a nightmare. I'm not going to judge the man whose dreams that is, since in the end we all are looking out to prosper even if only on instinct. But for a country it is a **** poor excuse of an ideal.

What sort of ideal would you recommend or promote?

 

[Revoltingest]

A dream based on shallow self gratification sounds more like a nightmare. I'm not going to judge the man whose dreams that is, since in the end we all are looking out to prosper even if only on instinct. But for a country it is a **** poor excuse of an ideal.

One person's dream is another's nightmare.
But at least here, you have some liberty in constructing your own dream.

 

[no-body]

What sort of ideal would you recommend or promote?

I actually think the quotes from wikipedia stating what the American Dream is are very good ideals for a country.

Except we should actually acknowledge that they are ideals instead of using it as b.s. propaganda for patriotism.

 

[Levite]

For the few................

Who's buying homes? The rich.
By Les Christie, staff writerMarch 7, 2011: 11:43 AM ET

NEW YORK (CNNMoney) -- The rich are different from you and me: They're buying real estate.

After four straight years of declines, sales of million-dollar homes and condos rose last year in all 20 major metro areas, according to DataQuick Information Systems. On average, these cities saw an 18.6% jump in high-end home sales.

San Jose, Calif., had the biggest market for million-dollar homes, with a 27.4% spike in sales last year; Phoenix saw the smallest increase at just 0.4%.

Meanwhile, sales outside of this price point actually fell 2.8%.

"It hasn't been a good six months for all people, but it was a good six months for rich people," said Glenn Kelman, CEO of Seattle-based real estate brokerage Redfin.

"When Wall Street goes up, rich people buy homes."

Million-dollar homes sales rise nearly 20% - Mar. 7, 2011

Please tell me this is the way we make America a great nation again, because I can't make myself believe it.

Meh. Far as I can tell, what it proves is that the rich are going to be the ones spending money because they're the ones who have money to spend. Not sure I needed the NY Times to teach me that.