Home ownership: The American dream
Since we are nearing the end of the presidential election season and have been discussing all types of American dreams, maybe it's appropriate to talk about the quintessential dream of homeownership.
We are a people devoted to the notion of owning our own home. It's in our DNA - a desire that began as soon as the settlers set foot on our eastern shore. As of 2015, about 64 percent of Americans own the home they live in today.
The feasibility of owning a home depends greatly on where you live. Affordable housing still exists in many states. Generally, major urban hubs have become nearly unaffordable, particularly for those wishing to enter the housing market, many of whom are millennials.
Cities like Seattle and San Francisco, which offer so many job opportunities for young professionals, are becoming prohibitively expensive - just like Manhattan and desirable sections of downtown Chicago have been for decades. When considering one's earnings compared to the cost of a mortgage payment - and lack of help from family for a hefty down payment - the math often just doesn't pencil out. Beginners in the housing market often find they can only afford a smaller property, if any.
This is one reason we have seen enormous interest in the tiny-house movement - the movement of small homes that are actually on wheels. There are two prominent TV programs devoted to the genre, so exposure is vast.
Besides millennials, retirees also express interest in the financial relief that owning a tiny home delivers. While there is freedom in the concept of a mobile home, when it comes to actually buying one there are a few details to consider. For example, know that if you don't pay cash for the home, you will need to arrange an unsecured fixed-rate mortgage. There is generally a 2- to 7-year payoff plan. And you will need a FICO score of at least 670.
Besides individual tiny houses, other increasingly popular prototypes include microunits that are built to replace demolished structures like markets or shopping centers. We know them as "infill projects." They allow multiple-family occupancy. Sure, such projects bring increased population density to urban areas. But they also aid in concentrating transportation and other services in ways that can benefit most people. Density can guarantee ridership on public transportation, and that might encourage the expansion of areas in need.
As a way to ease the housing crisis, California is slowly looking, community by community, at relaxing regulations on constructing backyard auxiliary-dwelling units, which are sometimes called "granny flats." Stumbling blocks often are off-street parking requirements and enormous fees levied by local agencies, which are often as onerous as if one were building a 5,000-square-foot house instead of a 400-square-foot granny flat.
The White House recently released its Housing Development Toolkit, in which it suggested granny flats as an opportunity for additional affordable housing.
This is an example of a housing project in Belmont, North Carolina. The American dream is pictured in this iconic image of traditional Victorian-style homes in the Eagle Park development. Eagle Park reflects a new style of neighborhood where homes are built on smaller lots with certain amenities, such as parks and pools, and located near both small towns and large cities.
Many young architects are designing prototypes that reflect how people are really living in 21st century America. For example, multigenerational families are residing together out of financial necessity and need homes that offer sensitive amenities.
Architect Marianne Cusato has been a leader in design for this market. Her New Economy Home 1.0 is designed with the flexibility to accommodate the owner's needs in good times or bad. An adaptable suite with private entrance and porch is located on the first floor. It can function as part of the whole house or break off into a private suite or income-producing apartment. It can be used as a family room or guest bedroom in good times. And during those more stressful economic times, it could be rented out or used by an elderly parent, adult child or even one member of a divorcing or separated couple.
• Christine Brun is a San Diego-based interior designer and the author of "Small Space Living." Send questions and comments to her by email at christinebrun@sbcglobal.net.
© 2016, Creators Syndicate