Living the alternative to the American Dream
Living the alternative to the American Dream. How some Americans are turning traditional real estate on it's head. As prices of residential real estate soars across the country, and people struggle with low inventory, bidding wars and high stakes offers there is a flip side to “traditional” real estate that has captured people’s attention.
Concepts like Boxabl whose mission is to significantly lower the cost of home ownership for everyone by creating 400sq ft homes that can be delivered and assembled onsite in an hour are going to change the face of real estate. You may be captivated by shows on HGTV that help people downsize from big homes to little homes. There are people converting buses or RVs to live full time or taking a wasted shipping container and turning it into a glamorous home.
Many people are dumping the idea of a conventional 30 year loan to go for something more affordable, maybe portable and one that provides a safe space to call home without the huge debt incurred buying a traditional home. Younger generations would rather spend their money investing in things they believe in or having experiences vs debt. This is a huge mindset shift from previous generations.
People are trying to shake off the traditional shackles, The New Better Off: Reinventing the American Dream, Courtney Martin presents a frankly depressing statistic: Two-thirds of Americans today don’t believe they’ll be better off than their parents. The ideology of being better off than your parents has become downright impossible for some. The cost of traditional housing, the requirements to get a mortgage, the mindset of staying in one place for several decades is not something that many younger people want to engage in. It may come down to finances or a desire to help the environment but whatever the reason many are embracing alternative living.
Housing is the number one expense for almost everyone. If you can reduce or eliminate that cost, it could free up much more of your income to invest in income-producing assets, such as rental properties or allow you to invest in REIGs ( real estate investment groups) private investors who invest primarily in real estate by pooling money, knowledge, and/or time to acquire properties. The more expenses you can cover with your passive income investments, the closer you’ll be to financial independence.
These are bold and different ideas but you don’t always have to walk the path that others walk. By stepping outside your comfort zone, finding alternative ways to live comfortably you may just find yourself in a better place financially and even mentally & spiritually by getting out of the grind, freeing up your resources and doing something different.
