Is the Next American Dream Still Homeownership? – “Real Estate Matters” December 6, 2025 Video Podcast

For more than 11 years, Real Estate Matters has been the voice of real estate in Palm Coast and Flagler County. Veranda Bay, the new luxury Intracoastal Community in Flagler Beach, sponsors the show.

Is the next American Dream still homeownership? Generational change is likely to shift wealth creation to other strategies.

Be sure to check out the new Flagler County Map of Developments and Subdivisions.

Raw Show Notes

Our behind-the-scenes guide to the show’s flow, covering many topics we didn’t have time to get to on the show. This is raw and likely contains typos. Data reflects the date of the show’s recording.

Show Notes 12-6-2025

Recorded 12-4-2025

Welcome to Real Estate Matters, for over 11 years, the voice of real estate in Flagler County and Palm Coast. Welcome to the quiet side of Florida.

I’m Toby Tobin, the publisher of GoToby.com, contributor to the Palm Coast Observer, and a Florida-licensed Realtor with The Landmark Group at Compass. Co-host Annamaria Long is with us in the studio today.

Guest – David Ayers – President and CEO of Flagler Broadcasting, owner of this and six other local stations between Palm Coast and St Augustine.

Thanks to Our Sponsors:

• Our Lead Sponsor is Veranda Bay – A private developing community of lots and luxury homes on the Intracoastal Waterway in Flagler Beach, featuring custom homes by Olsen Homes, AR Homes by Arthur Rutenberg, ICI Homes, and Hulbert Homes. Newly opened sections feature homes by Toll Brothers and Dream Finders. To learn more, visit VerandaBay.com.
• Flagler County Home Builders Association
• Hammock Community Church – On A1A in The Hammock – Small enough to know you but large enough to serve you. North of the toll bridge with the message sign out front. It’s not just for Hammockians. Like me, many people cross the bridge.

Final November stats:

• 204 Homes sold via the Flagler MLS at $366,000 vs 144 homes at $363,995 last November, DOM = 54 this year
• $250K and lower = 10, 4 were cash, DOM 21
• $1M or higher – 10, 7 for cash, DOM 91
• Homes listed – 1,172
• Homes Pending – 330
• 7 months of inventory
• Median Price of homes pending – $369K
• GINNdex is down from 4.9 in July to 3.55
• Homes sold – up 14.9% in Sept, 20.4% in Oct, and 41.7% in Nov
• Median price – Sept up 3.6%, Oct up 2.2%, Nov up 0.6%
• Total Sales – Sept up 6.4%, Oct up 4%, Nov up 46.1%

Observations:

The local housing market is showing definite signs of strengthening. September, October, and November all surpassed last year’s numbers for the number of homes sold, the median selling price, and total sales.

Cautionary note: While the number of homes under contract exceeds last year at this time, the listing price of these homes is down roughly $18,000 from both the previous month and from one year ago.

Today’s Topic – More on the Vanishing American Dream

The American dream has always included owning a home and building equity over time. Indeed, for the middle class, accrued home equity is a pivotal source of retirement income. But housing is becoming increasingly out of reach as real estate values rise faster than income.

We are turning the middle class into a rental society. In 2025, the average net worth of homeowners is about $430,000, while renters average just $10,000—a staggering 43-fold difference.

How much of real estate wealth accumulation is simply inflation? How many cars can you buy today for the price of a house? Is the answer to that question much different from what it was 60 years ago?

So, what will the new American dream be?

First, let’s look at possible solutions to the housing affordability problem.

Factory-built homes or modules, rather than site-built homes

Smaller homes

Group homes

Automation as in 3-D printed housing or robotic construction

Standardized permitting regulations and building codes

Changing the financial ecosystem of homebuying:

• 50-year mortgage
• Variable rate mortgages
• Portable mortgages
• Land leases – popular in Europe

Does it make sense to embrace a rental society that diverts homeownership expenses to other sources of wealth accumulation? An example is the Trump Fund

Teaching financial awareness in schools

Children with a savings account are more likely to finish school, less likely to go to jail, more likely to get married, have children, and own their own home, and less likely to become part of the social welfare system.

More emphasis on work skills preparation whether a trade, skill, or relevant college degree.

Overhauling the public school systems to improve outcomes. More emphasis on life skills and less on social engineering.

Flagler County Residential Development Map

Thanks to an introduction article by Flagler Live, the map has received over 7,000 views. You can find it on GoToby.com on the Home Page. Click on the map image to reach the live map page.

Filler News:

For Sale By Owner transactions – better known as FSBOs – comprised just 5% of home sales during the past few years, beating out last year’s lowest on record of 7%, according to the National Association of Realtors®’ 2025 Profile of Home Buyers and Sellers. Meanwhile, a record high of 91% of home sellers sold their home with the assistance of a real estate agent.

The FSBO market share has been gradually shrinking over the last four decades, even as technological advances have entered more aspects of a real estate transaction. In 1985, FSBO sales accounted for up to 21% of home sales. The FSBO share has stayed mostly in the single digits since 2010.

Wrap up:

Video podcasts of Real Estate Matters are now available on GoToby.com. Click on Podcasts on the top navigation bar.