ECON 430 University of Maryland The American Dream Discussion Post

I’m working on a management discussion question and need an explanation to help me learn.

Housing Starts after suffering their worst collapse in decades appeared to have bottomed out several years ago and once again began recovering. Since the onset of the pandemic this trend reversed initially as the economy went into lockdown, but the sector now seems to be mounting a slow recovery. Although housing is still in short supply, mortgage rates are now lower than at any time in the past half century – a boon to those considering buying a home. Is the American Dream like the mythical Phoenix rising from the ashes? Your take?

Please see the links below for some useful background.

1. https://tradingeconomics.com/united-states/housing-starts
2. https://nationalmortgageprofessional.com/news/75268/housing-starts-higher-projected#:~:text=The%20U.S.%20Census%20Bureau%20and,934%2C000%2C%20but%2023.2%25%20below%20the
3. https://www.washingtonpost.com/business/2020/06/18/mortgage-rates-plunge-record-lows/
4. https://www.marketwatch.com/story/mortgage-rates-hit-another-all-time-low-as-home-buyers-rush-to-secure-cheap-financing-2020-05-28
5. https://www.washingtonpost.com/business/2020/07/27/housing-inequality-coronavirus/