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  1. Why Democracy Is Public: The American Dream Beats the Nightmare

    The democracy of care, shared responsibility, and trust is the democracy of the American Dream. The "democracy" of no care, no shared responsibility ...

    http://www.huffingtonpost.com/george-lakoff/why-democracy-is-public-t_b_911205.html

  2. American Dream Or American Nightmare - Essay - Essay - Celpaige

    American Dream Or American Nightmare - Essay American Dream or American Nightmare America and its people have upheld the concept of the “American Dream.”

    http://www.oppapers.com/essays/American-Dream-Or-American-Nightmare/899067

  3. Buy.com - American Nightmare/American Dream Knight, Suge ...

    The most outspoken and controversial figure in the music industry today--founder of Death Row Records--tells it like it is on the music, the violence, and the truth ...

    http://www.buy.com/prod/american-nightmare-american-dream/33861522.html

  4. AMERICAN DREAM OR AMERICAN NIGHTMARE (Problem-Solution)

    Is the American dream really a dream, or is it a nightmare? Many Mexicans think that if they work in the USA they will have more opportunities to be better ...

    http://sharingouressays.blogspot.com/2008/05/american-dream-or-american-nightmare.html

  5. American Dream or American Nightmare? - Radical New Thoughts ...

    Is the American dream really an American nightmare? A look at the cost of an ideal.

    http://www.radicalnewthoughts.com/american-dream.html

  6. Video explaining how The American Dream is a nightmare. | May ...

    Video animation by The Provocateur Network explaining how The American Dream is really a nightmare.

    http://www.may29th.org/?p=383

  7. The american dream and the american nightmare in literature ...

    The american dream and the american nightmare in literature by William D. Howells and Henry James - Carolina Hein - Term paper - American Studies - Literature.

    http://www.grin.com/en/e-book/92625/the-american-dream-and-the-american-nightmare-in-literature-by-william

  8. Why Democracy Is Public: The American Dream Beats the Nightmare

    By George Lakoff and Glenn W. Smith. Democracy, in the American tradition, has been defined by a simple morality: We Americans care about our fellow citizens, we act ...

    http://georgelakoff.com/2011/07/28/why-democracy-is-public-the-american-dream-beats-the-nightmare/

  9. Homeownership: American Dream or American Nightmare?

    The real estate listing and search site Trulia.com released the results of its biannual American Dream survey this week. The survey has tracked American attitudes ...

    http://www.dsnews.com/articles/homeownership-american-dream-or-nightmare-2011-02-10

  10. American Dream has turned into An American Nightmare | Gerald ...

    The 1% ride on the backs of the 99%. I would really like to see some of the 1% try and live a week on the streets and see how they handle the situation.

    http://geraldcelentechannel.blogspot.com/2012/01/american-dream-has-turned-into-american.html

  11. 36 Statistics Which Prove That The American Dream Is Turning ...

    The American Dream. Waking People Up And Getting Them To Realize That The American Dream Is Quickly Becoming The American Nightmare

    http://endoftheamericandream.com/archives/36-statistics-which-prove-that-the-american-dream-is-turning-into-an-absolute-nightmare-for-the-middle-class

American Dream or American Nightmare?

American Dream or American Nightmare?

 

It seems that the American Dream has turned into the American Nightmare for millions of Americans. Nationally there are currently 23% of homes in the United States that are under water. This means that the market value of their home is less than the existing mortgage on the property. Another term used to describe this situation is having an upside down mortgage. To think that almost one quarter of all homes in the United States are under water would have been unimaginable just a few short years ago.

 

But since then greedy mortgage lenders and banks created the housing bubble, and it will be years until the inventory of foreclosed homes that have flooded many markets will be cleared and any sort of normalcy returns.

 

Not surprisingly, it is in areas where the bubble was largest that the biggest hurt is being felt now. Las Vegas is the worst in this regard, and an astounding 80% of all Las Vegas homes are under water. Las Vegas also has a foreclosure rate that is five times the national level, and in October, 2010, alone, one in seventy homes in Las Vegas received foreclosure notices. The mean value of homes has dropped by 58% to $130,000, so this tells the story of why so many homes are under water.

 

Phoenix was also a booming real estate market a few years ago, and it has recently been estimated that somewhere between half and two-thirds of all homes in Phoenix are under water. Not far behind is Orlando, Florida with 60% of the homes with upside down mortgages, and in Miami the figure is 42%.

 

People who own these properties and who can still afford their mortgage payments aren’t really affected much by these statistics, unless they are in a position where they need to move. But the upshot of all this is that the housing market nationally is flooded with homes that have been foreclosed upon, and these have been difficult to sell of late. With so many other properties under water, it appears that if anything the foreclosure flood will continue and may even accelerate.

 

Despite the fact that the federal government is keeping interest rates at record low levels in an effort to improve the housing industry, home sales are still sluggish, and there are and will continue to be an enormous amount of foreclosed homes on the market.

 

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