It is the expectation of life journey in America as is envisioned. Children will enter school, carve a field of interest to use as a tool to acquire the prizes of life. A home, a family a good car, career advancement, retirement savings, and then retirement. This is often referred to as the American Dream. It’s one of the things that attracts so many to this country.

Over the last decade the dream has become a nightmare. The path along the way has rerouted to detour to a dead end. Something happened along the cycle of American life. Something that appears to be very grave, disheartening and depressing.

Housing prices are growing more unaffordable even with the astronomical rise in mortgage rates, putting ownership out of reach for millions of Americans.

That’s according to a new report published by real estate data provider ATTOM, which examined 572 U.S. counties and determined that median home prices in 99% of those areas are out of reach for the average income earner, who makes about $71,214 annually.

“The latest trend continues a two-year pattern of homeownership getting more and more difficult for average U.S. wage earners,” the report said.

Affordability is worsening across the country, thanks to a third-quarter spike in both home prices and mortgage rates. Combined, the two have helped to push the typical portion of average wages nationwide required for major homeownership expenses up to 35%.

The housing shortage has only served to boost consumer demand, which is keeping prices uncomfortably high. The National Association of Realtors reported that the national median existing-home price was $407,100 at the end of August — up 3.9% from the same time one year ago.

“The dynamics influencing the U.S. housing market appear to continuously work against everyday Americans, potentially to the point where they could start to have a significant impact on home prices,” said ATTOM CEO Rob Barber. “We will see how this shakes out as the peak 2023 buying season winds down.”

The average rate for a 30-year fixed loan jumped to 7.31% last week, Freddie Mac reported, well above both the 5.89% rate recorded one year ago and the pandemic-era lows of 3%.

Even though mortgage rates are nearly double what they were three years ago, home prices have hardly budged. That is largely due to a lack of available homes for sale. Sellers who locked in a low mortgage rate before the pandemic began have been reluctant to sell, leaving few options for eager would-be buyers.

With that said the real “devil in the details” in the number of homes being bought by people like Warren Buffet and B.W. Hughes. who buy up a very large percentage of homes on the market, and some that aren’t. Couple that with Corporate ownership and it’s a direct impact on available homes for sale.  The competition between corporation buyers against American Citizenry has  driven prices continually upwards.

The most difficult part to watch is the death kneel of optimism in the dream with the influx of low wage workers though mass immigration. This has driven the average wages far below what is required for home ownership today.

Annual wages of more than $75,000 needed to afford typical home in more than half of counties analyzed

Annual wages of more than $75,000 are needed to pay for major costs on the median-priced home purchased during the third quarter of 2023 in 330, or 57 percent, of the 578 markets in the report.

All but one of the top 25 highest annual wages required to afford typical homes are on the east or west coasts, led by New York County (Manhattan), NY ($407,125); Santa Clara County (San Jose), CA ($357,889); San Mateo County (outside San Francisco), CA ($356,519); Marin County (outside San Francisco), CA ($325,323) and San Francisco County, CA ($319,673).

The American Job Market is operating at very low percentages of unemployment but the wages don’t equate to large scale buying power when you factor in things like the costs related to upkeep and maintenance.

There doesn’t seem to be a solution insight as to how to put wages and home pricing in the same stratosphere.

To solve this problem there needs to be income that can both sustain the day to day existence while allowing for savings for the dream of home ownership.  While the American Dream may not be dead it is certainly absent in today’s economy and has been since the COVID Pandemic. The question is will we recover or is this the death kneel. Will America become a land of renters and squatters whose purpose is to enrich the wealthy? We can and should keep the dream alive.

The answer may lie in policy and economic stimulus. This needs to addressed sooner rather than later. Home ownership is the number 1 measurement of weath in the US.

While the battle ground over access to higher education was seated in the Supreme court ruling on Affirmative Action, the real issue may be one of access and economics. The shot fired around the world was the Supreme Court’s decision to end any discussion of race in college acceptance consideration. This decision could be hurtful to non Asian, low income racial minorities. African Americans and Hispanics are the least represented in the highest ranked Universities and Colleges.

Statistically proven, a College degree goes far in creating opportunities and pathways to over coming economic impoverishment. Here are the median lifetime earnings of full-time workers by level of education:

• less than high school – $1.2 million
• high school diploma – $1.6 million
• some college, but no degree – $1.9 million, equal to about $47,500 annually
• associate’s degree – $2 million, or about $50,000 per year
• bachelor’s degree – $2.8 million, the equivalent of $70,000 annually
• master’s degree – $3.2 million, or $80,000 annually
• doctoral degree – $4 million, equal to $100,000 per year
• professional degree – $4.7 million, or an average of $117,500 annually.

Distribution

These numbers are also skewed when observing the annual pay along racial lines:

• Among high school graduates, white workers earn a median of $1.7 million. Compared to $1.4 million for Asian, Black, and Latino workers.
• White workers with an associates’ degree earn a median of $2.1 million. Compared to $2 million for Asian workers. $1.9 million for Latino workers. And $1.7 million for Black workers.
• At the bachelor’s degree level, white and Asian workers each earn a median of $2.9 million. Compared to $2.3 million for Black and Latino workers.
• At the master’s degree level, Asian workers earn $4 million. Compared to $3.2 million for White workers, $3 million for Latino workers. And $2.7 million for Black workers.

The Fall Out From the Supreme Court Decision

When the Supreme Court gutted affirmative action, it may have inadvertently created an opening to spotlight another controversial college admissions program. Which has been in use for about a century now: legacy admissions, aka “affirmative action for the wealthy.”

It’s been a common practice since the 1920s, with higher education institutions initially using it as a way to limit Jewish applicants and eventually Black students too. Legacy students made up 36 percent of the class of 2022, according to a Harvard Crimson survey. And documents from the Students for Fair Admissions v. Harvard College case revealed that nearly 70 percent of Harvard’s donor-related and legacy applicants are white.

Oren Sellstrom, litigation director at Lawyers for Civil Rights, has been eyeing legacy admissions for some time. He believes that now is the moment to challenge it. He filed a complaint with the Department of Education over Harvard’s practice of legacy admissions. Citing widespread violations of Title VI of the Civil Rights Act of 1964 on behalf of the Chica Project, the African Community Economic Development of New England, and the Greater Boston Latino Network.

“Our complaint stands on very firm legal footing. The issues that we’ve presented are clear both from a fairness perspective and from a legal perspective. Obviously, in light of the Supreme Court’s recent decision on affirmative action. It is even more critical to remove unfair and undeserved barriers that stand in the way of equal opportunity for students of color. Our complaint is based on long-standing federal anti-discrimination law that makes clear that if there are barriers that have a disproportionate impact on students of color, they need to be dismantled, unless the institution can provide an adequate justification for them.”

In the case of Harvard, it’s clear that donor and legacy preferences have a significantly disproportionately harmful impact on applicants of color, and there is no educational necessity for them. Harvard is not the only institution practicing legacy admissions—one report estimates that 787 colleges and universities reported using legacy preference in 2020.

“Our hope is that once the Department of Education has investigated Harvard, that it will also turn its eye and turn the power of the federal government on to all other institutions of higher learning that receive federal funding, and that also have these unfair and undeserved preferences. Many colleges and institutions at this point have done away with legacy preferences and donor preferences or have never used them in the first place. Particularly over the past eight to 10 years, we have seen significant movement away from those unfair and undeserved preferences.”

College Attendance is Dropping in Large Numbers.

Low Investment Ideas to Make Money in 2023

Most profitable small businesses according to Nerd wallet don’t require lots of money to get started. With a solid business plan, hard work and determination, any strong business idea may become successful and profitable.

Businesses in high-growth industries with lower startup costs, however, may have greater profitability potential. With the rise of technology, for instance, you’ll probably have more success starting a virtual assistant business than opening a grocery store.

So, after reviewing Nerd Wallet and comparing to others like Oberlo.com and IPPEI.com, we compiled our top 14 list of opportunities to try:

1. Food trucks

T he food truck movement has been experiencing consistent growth over the past five years — and it’s expected to continue — with the market projected to grow to $6.6 billion by 2028. According to a 2021 report by Grand View Research,you can start a food truck business for less than a third of what it costs to open a brick-and-mortar restaurant; plus, you have geographic versatility, the potential for high revenue returns and the flexibility to create a custom menu that’s all your own.

Keep in mind that bigger, trendier cities like San Francisco, Boston and Washington, D.C., already have a very saturated food truck market (as well as tougher regulations to get started) — so this might be a more successful business in a smaller heartland metropolis.

Food trucks also tend to have their own special set of ordinances, business licenses and safety compliance standards. They also require food business insurance, so you’ll want to contact your local health department to find out what will be required.

2. Car wash services

The rising price and expanded features of new vehicles are causing car owners to keep their cars longer, according to a 2020 study by Consumer Reports. As drivers keep their cars longer, businesses like car washes that help people maintain the value of their auto investment are expected to keep rising as well.

According to the International Carwash Association, 66% of Americans wash their vehicles somewhere between one to two times per month, with an average of 13 times per year. The car wash market is projected to increase from $14.7 billion in 2021 to $20.7 billion by 2028.

You might start a car wash business even more profitable by turning it into a mobile service. Customers may pay more for a car wash that comes to them, especially if they have a luxury car and prefer a more personalized service. As a mobile car wash and auto detailing service, you’d avoid the overhead and startup costs of having a physical location.

3. Auto repair

In 2021, the average age of cars and light trucks in the U.S. rose to 12.1 years, increasing from 9.6 years in 2002, according to IHS Markit (now part of S&P Global). People are keeping their cars longer than ever, suggesting there’s significant opportunity in the maintenance and repair business.

Additionally, car owners are more likely to visit a small business for repairs; according to the Auto Care Association, more than 70% of repair business is captured by independent repair facilities compared with dealerships or manufacturer-authorized repair facilities.

If you’re a skilled mechanic, you might consider an auto repair service as one of the most profitable business ideas. You can offer oil changes, fluid refills, battery swaps, headlight repair and more. And if you’re looking to save on overhead costs, you might make it a mobile service and travel to your customers, performing repairs in their driveway or office parking lot.

4 Enrichment activities for children

While Americans continue to have children, shrinking budgets for education mean that both traditional academics and enrichment subjects like music, art and athletics often take a significant hit.

A successful business to start might be one that teaches enrichment activities to children. According to a 2018 U.S. Census Bureau report, kids are just as involved in extracurricular activities today as they were 15 years ago. Some research indicates that nearly half of American parents spend more than $1,000 annually on their children’s activities.

You could launch a gymnastics center or music school, become a swimming instructor or kids’ yoga teacher, or focus on some other child-centered activity. If you have a skill that could be easily taught to young students, you might already have a profitable business in the making.

5. Mobile apps and entertainment for children

If your interests are in development and engineering, you might consider gearing your technology toward the youngest users. Research shows that demand for tablets, apps, and mobile entertainment for children is on the rise — especially if those products are education-focused.

According to a Learning First Alliance report on mobile devices and early childhood education produced by research firm Grunwald Associates, more than 60% of parents surveyed believe that mobile devices and apps have benefits for teaching kids’ skills in reading, math, science and world languages.

Do you have an idea for an educational app for children or parents? If so, now’s the time to move forward on your bright idea for the next generation and make this potentially profitable business a reality.

6. Shared accessories and attire

Sites like Rent the Runway and Gwynnie Bee have banked on the idea of the sharing economy — where we want and need to own less stuff, so instead, we share resources.

T hese companies offer borrowed or rented clothing and accessories at a fraction of their purchase prices, and because the same piece of inventory generates revenue multiple times, the profitability of these ventures can be significant. According to a 2021 study by the reselling platform Mercari, the secondhand-clothing market is projected to more than triple by 2030.

Do you have an eye for fashion and a sense of style not currently offered by other rental services? Maybe you’re ready to be the next big thing.

Even if you’re not prepared to launch a multi-million-dollar fashion startup, you can just easily profit from shared fashion at the local level. Gather some favorite accessories or clothing picks and host a borrowing party — where customers can rent or purchase items from your closet — for high school students before the next formal dance.

If you’re in a college town, Greek life formals are another great opportunity to profit from shared economy fashion. You have the potential to be even more profitable because you’re taking shipping costs out of the equation.,

7. Shared home improvement equipment

Are you the go-to person in your neighborhood for every lawn, garden, and home repair tool? Why not turn those tools into a profitable business by advertising your available equipment beyond your immediate friend group?

You might even decide to invest in more specialized and higher-cost equipment that would be useful to those around you. If a customer doesn’t know how to use a specific tool, combine equipment rental with your mobile service for even more cash in the bank.

Home improvement spending has increased since the start of the COVID-19 pandemic — and U.S. households spent an average of $8,305 on improvement projects in 2020 alone, according to a study from Home Advisor. As more people continue to invest in fixer-upper houses and remodel, this could be a big opportunity.

8. Podcasting

So many people listen to podcasts, it’s insane.

According to this report, 32% of Americans are monthly podcast listeners, with average listening time at 6 hours 37 minutes.

That’s great news for fans and podcast enthusiasts because starting your own podcast can cost as low as $250 if you already have a computer. Top podcasts can even earn millions of dollars from sponsorships, products, and affiliates.

You can discuss anything and everything you’d like on your podcast– the joys of creative and time freedom!

9. Car Flipping

Getting hassled at the dealership just isn’t appealing to most consumers anymore.

The staggering number of people who use the Internet to search for new and used cars (78% of consumers according to these statistics), particularly third-party sites like Craigslist, has increased tremendously over the past few years.

That’s good news for those interested in the car flipping business. This business model involves purchasing lower-priced vehicles and selling them for a profit.

The sweet spot tends to be cheaper vehicles in good condition in the $500-$5,000 range.

A small investment of less than $1,000 can easily get you started. Use the profits from your first flip to fund more and watch the pure profit start to trickle in.

10. Content writing

Almost every company with a web presence needs help creating content for product pages, blogs, etc.

As such, starting a content writing or copywriting company could be one of the most profitable business ideas for you. Popular websites for finding those first few customers include Remote.co, Problogger, and BloggingPro.

You can also join content writing groups on Facebook to get more exposure for your business. To make a good impression on clients, consider offering keyword optimization or custom graphics as part of your services.

11. Homemade products

If you have a knack for molding soap bars, brewing drinks, or baking specialty products, a homemade crafts business may be a great fit for you. Not only does it serve as a wonderful creative outlet, but it can easily scale up as word of your business gets out.

Some of the most profitable homemade products include agricultural products, beauty solutions like cosmetics and soaps, and accessories such as jewelry. The ingredients and raw materials coupled with your labor should provide a sustainable return on investment.

You can start selling homemade products at your local farmers market, on a platform like Etsy, or with a storefront on iCraft. Try adding a unique twist to your products, such as dessert-themed bath bombs or pop-culture clothing items.

12. WordPress support

A lot of websites out there are hosted on WordPress, and almost every WordPress website owner requires support in some form. So, if you’re familiar with the ins and outs of this platform, you’ll have several opportunities to make money.

Clients may contact you to fix their CSS, find and address security holes, and more. While you can use platforms like PeoplePerHour and Upwork to get your first clients, we recommend creating a custom website and listing your services there. That way, you’ll be able to avoid high commissions and build high-quality relationships with your clients.

Hands down, offering WordPress support is one of the best business ideas to try in 2023.

13. Business Consultant

Consider yourself an expert in an area where business could use your input, whether it’s IT, team building, systems improvement, real estate, or something else?  You could start a business as a consultant.

Your professional network is worth far more than anything when it comes to finding clients, so make sure you have built strong connections in your field and a good-sized emergency fund in case business is slow at the start.

Along with the chance to travel to clients all over, business consultants can charge what they believe their experience brings to the table.

14. Business or marketing courses

Since the beginning of the COVID-19 pandemic, participation in career-focused online courses has grown significantly, especially as more employees look to change jobs or work from home. For instance, LinkedIn saw a 53% increase in global hours spent learning from 2020 to 2021.

Companies have expanded or launched new coverage for tuition reimbursement in recent months, meaning workers have money to spend on these types of classes. According to a 2022 Harris Poll performed on behalf of Fortune, 14% of employees reported their companies offer some type of coverage or reimbursement for online training courses, and over the past six months, 10% of employees reported their employers have expanded or launched new coverage for these types of training opportunities.

If you have career skills to share, you can start creating online courses with few initial costs. Popular course topics include bookkeeping, QuickBooks accounting software, WordPress web development, graphic design, or even how to write a great cover letter or resume.