The American Dream Goes Bust, KB Home Wrecked, Other Homebuilders Follow

Wolf Street reports:

The biggest decline in homeownership was among households headed by individuals age 35 and under, hence “first-time buyers,” the report explained, concluding that it’s now “possible to have housing booms driven entirely by investors.” And the chart depicts how America has changed from a nation of homeowners chasing the “American Dream” to a nation where Wall Street is the biggest landlord.

This is the environment homebuilders are facing.

Imagine that.