Randal O'Toole does a very good job of bringing out the original context and meaning of the phrase "The American Dream". And then, he proceeds to show how much of what has happened in the housing/lending market has turned that dream into a nightmare for many.
Home ownership should be a building block of financial success. Unfortunately for many, it has been turned into a financial wrecking ball that leaves their personal and financial lives shattered and requiring decades of work to repair.
The American Dream is alive and well and can be attained, but beware of those who use that phrase to lead the financially inept and fiscally ignorant down a primrose path to financial devastation for their own gain.
The sad thing is that there is money to be made for all in helping people get affordable, quality housing. But a zero-sum game mentality keeps some people thinking that your gain is their loss, so they set up everything they touch as a win-lose proposition rather than seeking the win-win that helps everyone.
I have bought and sold many houses as an investor and as a home owner. I know how to help people get affordable, quality homes and how to make money doing right by them. Greed is the only reason the American Dream becomes an American Nightmare.