Personal homeownership

 Work hard, save up, and get your piece of the American dream. 

But with home prices remaining stable (if not outright increasing in some markets) and interest rates continuing to rise, can young Americans get into their first starter home? 

Likely, not anytime soon. 

Many young people (and not so young!) are now postponing personal homeownership not just for years but for decades. 

I am one of those (not so young people)! Living in one of the most costly towns in the country for most of my adult life (Palo Alto, CA) ensured I would be kept in the rental pool unless genius struck with a million-dollar app idea!

Sadly, that never happened. 

But here’s the thing — although I have never purchased my own home to live in, I still became a property owner while living in Palo Alto. 

Living in an expensive area does not preclude you from property ownership 

As a real estate investor, I’ve owned properties in four states. The first property I bought in Houston TX, got me hooked.  

Additionally, as a single-family residence real estate syndicator, I work closely with my investors, helping them become property owners in areas outside of their costly zip codes. We buy, rehab dilapidated homes and get tenants in our properties, and we give those families a home, which feels great! 

So although the American dream may be put on hold for some, as a renter, I can attest that renting isn’t so bad after all. When the dishwasher breaks or the roof needs to be repaired, a feeling of relief that the solution is a phone call away. And I bet our renters feel the same!