Only people who can pay cash or have an unquestionably secure income stream should buy houses.    Everybody else should rent and live as cheaply as possible.  Those same people should advocate for rent control housing and safety nets to prevent being evicted if they lose their jobs and income.

Calling owning a house the American dream is nonsense because this dream is only possible with stable income.  For many decades people were employed by companies and could reasonably work at the company for life.  In this environment they could take out a loan and have a reasonable assurance the loan could be paid off.  This is not the case any longer.  Few jobs are secure.  Ask the 20,000 California state workers who will likely be laid off in the next few weeks.  Ask the millions who have lost jobs in the last six months.

America is doomed.