Chasing the American Dream: New Perspectives on Affordable Homeownership

**Chasing the American Dream: New Perspectives on Affordable Homeownership - A Critical Examination of Housing Policy in the 21st Century** Is the American Dream of homeownership truly attainable, and is it always beneficial, especially for low- to moderate-income families? In "Chasing the American Dream: New Perspectives on Affordable Homeownership," William M. Rohe and Harry L. Watson expertly curate a collection of essays that critically analyze the shift in public policy towards promoting homeownership as a primary solution for affordable housing. Published by Cornell University Press, this illustrated paperback delves deep into the complex realities behind the dream, offering a nuanced perspective that challenges conventional wisdom. For over a century, providing safe and affordable housing has been a cornerstone of public policy. However, the recent emphasis on homeownership, spurred by initiatives from both the Clinton and Bush administrations and fueled by the real estate industry's marketing prowess, has raised crucial questions. This book expertly addresses these questions. "Chasing the American Dream" doesn't simply accept the premise that homeownership is inherently superior to renting. Instead, it rigorously examines the economic, social, political, architectural, and cultural consequences of affordable homeownership programs. This volume explores whether the benefits of homeownership are being undermined by predatory lending practices, unfavorable mortgage terms, the poor condition of homes, and the impact of neighborhood location. The book gathers multidisciplinary voices to provide a comprehensive understanding of the landscape. It asks vital questions: Is homeownership truly a pathway to wealth creation and engaged citizenship for all, or does it, in some cases, perpetuate cycles of debt and disadvantage? Beyond critique, the book offers constructive solutions. Rohe and Watson synthesize the contributors' assessments to propose a concrete plan of action, outlining the steps necessary to create effective and equitable homeownership policies. This plan aims to ensure that the dream of homeownership is not merely a marketing slogan but a genuine opportunity for all Americans, regardless of their income level. **Why This Book Matters:** * **Timely and Relevant:** In an era where housing affordability remains a pressing issue, "Chasing the American Dream" provides invaluable insights into the complexities of homeownership policy. * **Critical Analysis:** This book transcends simplistic narratives, offering a rigorous and nuanced examination of the benefits and drawbacks of affordable homeownership programs. * **Multidisciplinary Perspective:** By bringing together experts from various fields, the book provides a holistic understanding of the issue. * **Actionable Solutions:** The book culminates in a concrete plan of action, offering practical guidance for policymakers and housing advocates. * **Perfect for:** Urban planning students, Public policy enthusiasts, Housing market researchers, Affordable Housing Advocates, Anyone seeking a deeper understanding of the social and economic implications of homeownership in America. If you are looking to understand the challenges and potential pitfalls of affordable homeownership policies in the United States, this book is a vital resource. "Chasing the American Dream" provides the necessary insights for informed discussions and effective solutions.