Your Opportunity to Achieve the American Dream Keeps Getting Better!
Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.”
The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs.
The national index score was rounded out to 100.0 in January as a baseline for comparison and it rose the fourth straight month in a row to 101.8.
Alaska, coming in at 89.4, represented the lowest score on the index due in part to the recent collapse in oil prices. In contrast, Wyoming came in with the highest score at 115.1. The full results can be seen in the map below.
Forbes Senior Editor Kurt Badenhausen explained why many states saw a boost in the index last month:
“The American Dream Index rose for the fourth straight month to 101.8 propelled by gains in goods-producing jobs and building permits, as well as declines in unemployment claims and mass layoffs.
“Goods-producing jobs (manufacturing, mining, construction and agriculture) were up for the ninth straight month in May…Building permits rose for the fourth straight month compared to the prior year.”
Bottom Line
The American Dream, for many, includes being able to own a home of one’s own. With the economy improving in many areas of the country, that dream can finally become a reality.
What You Really Need To Know About Home Prices
If you’re worried about if home prices will be coming down, here’s what you need to know.
Is It Getting More Affordable To Buy a Home?
Mortgage rates are expected to come down by the end of the year, making homebuying a little more affordable.
Should I Wait for Mortgage Rates To Come Down Before I Move?
When rates come down, more people are going to get back into the market leading to more competition.
Should I Move with Today’s Mortgage Rates?
While you could delay your plans until rates drop, you’ll only have more competition with those buyers if you do.
The Top 5 Reasons You Need a Real Estate Agent when Buying a Home
Keep in mind, every time you make a big decision in your life, especially a financial one, you need an expert on your side.
Don’t Let Your Student Loans Delay Your Homeownership Plans
You don’t have to figure this out on your own. The best way to make a decision about your goals and next steps is to talk to the professionals.