This Q&A is part of America: 250 Years Bold, a CNBC multiplatform series highlighting the leaders, institutions, and ideas that have shaped the United States over the past 250 years.Dr. Rajiv J. Shah, president of The Rockefeller Foundation, leads one of the nation's most influential philanthropic institutions. Founded in 1913, the organization has invested more than $26 billion worldwide to advance public health, expand access to opportunity and tackle global challenges at scale. In this conversation, Shah ...

Homeownership has long been promoted as the ultimate financial milestone and the cornerstone of the "American Dream." "If your goal is to become financially independent at a young age, you probably don't want to go buy a house," best-selling author JL Collins said recently on "The Diary of a CEO" podcast, as housing prices, interest rates, and everyday costs continue to rise. Collins, author of "The Simple Path To Wealth," said buying a home often ties up capital that could otherwise be invested. "You're ...

In an era in which homeownership feels increasingly further out of reach, one real estate CEO is trying to dispel the idea homeownership is the true American Dream. “I think it was a slogan created by banks to create interest income on home loans,” Ryan Serhant, founder and CEO of real estate referral network Serhant, said in an interview published by The CEO Series. “It’s like student debt. Everyone needs to go to college. It was a device to create interest payments on student debt.”But U.S. mortgage histo ...

Core Insights - Priscilla Chan, co-founder of the Chan Zuckerberg Initiative, nearly left Harvard University during her undergraduate years due to feelings of being out of place despite her academic success [2][3][4] - A pivotal moment for Chan occurred when she engaged with an after-school program for underserved children, which clarified her purpose and motivated her to stay at Harvard [5][6] - Chan and Mark Zuckerberg met at Harvard in 2003, and while Zuckerberg dropped out to pursue Facebook, Chan graduated in 2007 and later attended medical school [6][7] Philanthropic Endeavors - Chan co-founded The Primary School aimed at supporting disadvantaged children and, alongside Zuckerberg, established the Chan Zuckerberg Initiative [7] - The couple has pledged to donate 99% of their Facebook shares throughout their lifetimes to further the goals of their foundation, with Zuckerberg's net worth at $220 billion and Chan's at $30 billion [8]

For decades, the crowds outside House of Nanking have been a fixture of San Francisco’s Chinatown, with lines frequently wrapping around the block to get a seat in the cramped, high-energy dining room, under the iconic, multicolored sign that crowns Kearny Street. But for Kathy Fang, the restaurant’s heir apparent, her presence in that kitchen represents a sharp deviation from the “American Dream” her parents envisioned for her—a deviation that initially caused them deep dismay.Peter Fang, the restaurant’s ...

Core Viewpoint - President Trump is directing representatives to purchase $200 billion in mortgage bonds to lower mortgage rates, attributing economic issues to the Biden administration and claiming to restore the "American Dream" [1][2]. Group 1: Housing Market Initiatives - Trump emphasizes the importance of the housing market, stating that he chose not to sell Fannie Mae and Freddie Mac during his presidency, which he claims has resulted in significant financial benefits [2]. - The proposed purchase of $200 billion in mortgage bonds is intended to reduce mortgage rates and make homeownership more affordable for Americans [2][5]. - Trump argues that high inflation has made homeownership unattainable for many, particularly younger buyers, and that the housing market has strayed from its traditional role as a pathway to the American Dream [6]. Group 2: Policy Proposals - Trump plans to ban large institutional investors from purchasing single-family homes, which he believes will help restore affordability in the housing market [5][9]. - Details on the implementation of this ban are not provided, but Trump intends to discuss it further at the World Economic Forum in Davos [8]. Group 3: Critique of the Biden Administration - Trump criticizes the Biden administration for neglecting the housing market while focusing on issues like crime and inflation, claiming that the previous administration destroyed affordability [2][5]. - He asserts that his administration's actions have already begun to fix the economic issues left by Biden, particularly in the housing sector [2].

Group 1: Policy Proposal - President Trump is proposing a ban on large institutional investors from purchasing single-family homes to restore homeownership as a central aspect of the American Dream [1][3] - The proposal is a response to record high inflation attributed to the current administration, which has made homeownership increasingly unattainable for many, particularly younger Americans [2][3] Group 2: Market Impact - Following Trump's comments, shares of homebuilder companies dropped, with American Homes 4 Rent falling to a three-year low of $28.84 and Blackstone reaching a one-month low of $147.52 [7] - Institutional investors like Blackstone have acquired thousands of single-family homes since the 2008 financial crisis, which has drawn criticism from housing advocacy groups and Democrats for contributing to rent inflation [6][7] Group 3: Homeownership Trends - Redfin's data indicates that the median U.S. home sale price was approximately $433,214, reflecting a 0.7% year-over-year increase, while home sales dropped by 6.7% year-over-year [9] - Homeownership rates among younger generations, specifically Gen Z and millennials, have remained relatively flat, with slight declines noted in 2024 compared to 2023 [11][12] - In contrast, Gen X and baby boomers have seen increases in homeownership rates, with Gen X rising from 72% to 72.9% and baby boomers from 78.8% to 79.6% [13]

Group 1 - The Trump administration is moving to ban large institutional investors from purchasing single-family homes to help reduce home prices [1][4] - The median sale price of homes in the US was reported at $410,800 last year, reflecting the impact of inflation and housing market dynamics [2] - Trump emphasized that home ownership is a key aspect of the American Dream, which is becoming increasingly unattainable for many, particularly younger Americans, due to record high inflation [3] Group 2 - The president plans to ask Congress to codify the ban on institutional investors and will discuss additional housing proposals at the World Economic Forum [1][4] - Concerns about affordability and living costs have been central to Trump's campaign for the 2024 presidential election, as inflation remains above typical levels [2]

Group 1 - Homeownership is a key component of the "American Dream," providing a sense of security and stability, but this perception was challenged during the Global Financial Crisis (GFC) when homeownership rates declined significantly [1] Group 2 - Rida Morwa, with over 35 years of experience in investment and commercial banking, advises clients on high-yield investment strategies and leads the Investing Group High Dividend Opportunities, focusing on sustainable income with a targeted yield of over 9% [2] - The service includes features such as a model portfolio with buy/sell alerts, preferred and baby bond portfolios for conservative investors, and regular market updates, emphasizing community and education in investing [2]

Core Insights - The average sale price of a home in the U.S. is $500,000 as of September, with a median price of $426,000, reflecting a 63% increase from a decade ago [3][7] - Mortgage rates have risen to 6.9%, an increase of 800 basis points since mid-September, despite expectations of a decline following Federal Reserve interest rate cuts [4][7] - Withdrawing from a 401(k) to purchase a home incurs a 10% penalty and is subject to income tax, which can significantly impact the financial benefits of such a decision [5][6][7] Housing Market Trends - The median home price in the U.S. reached $426,000 in September, which is more than double the price from 20 years ago [3][7] - If current inflation trends continue, the price of a new house could exceed $601,000 in the next decade [3] Financial Considerations - The decision to withdraw from a 401(k) for home purchase is complicated by penalties and tax implications, which can diminish the perceived advantages of owning a home outright [5][6][7] - The rising mortgage rates and home prices are making it increasingly difficult for average Americans to achieve homeownership, a key aspect of the American Dream [2][4]