Millennials And The American Dream

It seems that over the decades, the “American Dream” has changed along with the generations who follow it. After the “Great Recession”, the housing crisis which triggered a financial crisis, and millennials have changed their point of view about homeownership. This change created another definition for the “American Dream”, because more opt out to rent versus buy, and some don’t bother with houses at all and prefer to live in apartments. This is all due to rising student debt, risks associated with owning a home, and the fact that homes are often suited for families and it’s been proven that millennials are pushing back the age for conceiving children.

During the “Baby Boomer” era, following WWII, America underwent one of the largest demographic shifts and population growths in history. Huge amounts of home construction on the outskirts of America’s largest cities, known as “levittowns” became the new staple of the American dream, with the houses sporting two car garages, and white picket fences. These low density, predominantly middle class residential districts, were America’s first true suburbs. These suburbs were constructed mainly in response to the new postwar consumerism that enveloped the parents of the baby boomers. With the new economy, affordable housing, and most families becoming single income dependent, families grew bigger and bigger. The 1947 passing of the bill that lead to the interstate highway system, only added fuel to the fire of suburbanization. With the new interstate highway system, more affordable and fuel efficient automobiles, and the government aiding in the financing of new suburban homes, the choice seemed elementary. All of these factors pushing to the suburban movement, only spurred the baby boomers on, and between 1940-50, there was an 835% percent increase in living births with nearly 4 million children being born every year. In 1940, 19.5% of the United States population lived in what would be considered to be suburban areas outside of large metropolitan areas, however, by 1960; the number was pushing nearly 40%. The postwar suburbanization of America during the baby boomer

It can be argued that the American Dream is dwindling as the country ages. As the country’s population rises, competition becomes more intense. This undoubtedly can make it more difficult to achieve a level of success that was more easily attainable 30 years ago. In addition, the cost of education has gotten so high that many graduates are paying back student loans for years. Many are stuck in a pit of debt that greatly hinders their career and personal goals. Also, rising costs of healthcare make it nearly impossible for some lower-income families to worry about more than keeping their basic needs met. In fact, some millennials are so fed up with current conditions that they completely deny the existence of the modern American Dream. For example, Andy Vasoyan, a 24 year old freelance voice actor and audio producer said, “I feel that the American dream (existed) and then just disappeared into the ether. Right now, because of income inequality and the difficulty of living in urban centers, it’s probably impossible for a huge segment of the population. And I don’t know if it was ever a real thing, but the idea of working

The American Dream, an idea of what it truly means to be an American in some respects. For many, it is the idea of starting from nothing and making something to look back on in your later years and be proud of what you’ve done. For many in the generations before the millennial generation, the ideal was to graduate college, get married, get a house, and raise a family. For many millennials, this has changed with one key difference. That difference is the importance of having their own house. This was brought about by many factors including the economy, political ideology, and sustainability.

America is seen as the land of opportunity in that there are endless possibilities for an individual. In this land of opportunity, Americans strive to obtain the ideal known as the American dream. The American Dream is seen as the accomplishment of an ambition achieved while challenged by adversity.1 Americans often associate this success with the ownership of a home. The home is not simply a place of basic protection; there is a much deeper connection to the individual. Ownership of a home grants freedom and security that establishes a sense permanency for the individual. In contrast, renting a living space possesses a semblance of instability and dependence.2 The desire to improve ones’ position in life inspires one to

The American dream is all about stability. Owning a home, having a well-paying job, a yearly vacation and children are stages of the American dream. Above all of them, owning a house is the most important because that means one is secure and stable. My auntie, Evelyn, had reached the biggest stage of the American dream: owning a house. After hearing the good news my family and I planned to visit her and see the new house, but it was too late before we got see her new house: the value of her house dramatically decrease and my auntie was forsaken. So, she decided to let the bank take her house instead of making the house payments. Just like my auntie, Evelyn, many American families were affected by the financial crisis in 2007-2008. Although the financial crisis was a horrific experience, there are some positive aspects.

In an effort to save money and lower debt, more and more millennials are turning living in their parent's basement from the punchline of a bad joke or sitcom fodder into an accepted, and even

Owning a home is emblematic of the “American Dream”. Unfortunately for many Americans, especially Millennials who are entering or have entered the job market, the thought of owning a home still remains a dream. Our unstable job market and fragile economy has made this aspect of the “American Dream” quite difficult, and many Millennials are more content with landing their dream job than owning a home. The wealth gap between the rich and the poor has prevented the poor from attaining the Dream since the Dream has always been within the grasp of those well off. In our modern society, the same unfortunately is true.

The American Dream has long been worshipped and held as an ideal in our nation for decades. One day settling down with a family of four and living in the suburbs was once held as the perfect end to an American fairytale dream, but as the housing crisis of 2008 tore through the market and threatened the dreams of countless families. Unfortunately millennials grew up watching the housing crash tear at the hearts of their parents and threaten to divide families from their homes. As a result, millennials see the American Dream differently than previous generations. Instead of dreaming to one day own a home, millenials see the American Dream as the opportunity for freedom to explore the world and decide where they shall land. The American Dream has changed from the destination to the journey.

Millennials living at home. At first, he uses the growing numbers of Millennials living with their parents in comparison to other generations as a sign of laziness in Millennials. Even when discussing the positive aspects of Millennials and their financial knowledge, he makes more snide comments about how easy it is to be financially stable if Millennials aren’t using their own money to begin with, but instead their parents’. It’s ironic that despite speaking so positively about Millennials at the end and how numbers don't mean everything, he still remains negative about Millennials housing situations based on numbers

The American dream is like a tree constantly growing and evolving. At its roots are God given rights like life, liberty and the pursuit of happiness a defining staple in the American dream. Then comes the trunk which represents the basic necessities such as having food on the table, a house and prosperity to name a few. Each generation adds its own branches and amendments to the dream. These amendments become standards or goals for each following generation who in turn give their all in order to meet the mainstream goals that have been handed down to them through generations of dreamers and achievers. Recently, more and more people have put their own stamp on the standardized American Dream causing many to suggest that the American Dream is

Homeownership is a double-edged sword. It is the “American Dream” to one day own a house. Compared to their predecessors, Millennials are seeing the advantages and disadvantages of homeownership at an earlier age.  These early generations believed owning a house was the cherry-on-top to being an all-around American and achieving the “American Dream”. As a cynical generation who grew up with information at our fingertips and the world falling around us, millennials see homeownership differently. “The cautious and conservative approach to home buying displayed by millennials is driven by the fact their outlook on life was shaped by a number of bad things when they were young—the terrorist attack on the World Trade Center in 2001, the 2008 financial crisis, the housing bust with mass foreclosures and a weak recovery that has so far provided incomes below that of prior generations” (Stowe England, 36). We learned that the world was not fair and that it is time to redefine the “American Dream” to reflect our current economic society.

“We need to teach the next generation of children from day one that they are responsible for their lives. Mankind’s greatest gift, also its greatest curse, is that we have free choice. We can make our choices built from love or from fear.” -Elisabeth Kubler-Ross

Especially here in Alaska. Things are so expensive and unless you have a really good job you can’t pay everyday bills and save the amount needed. If millennials are saving it will be at a rate that will make them available to purchase when they’re about 30. According to a study I found 68 % of millennials said they have saved less than $1000.00 for a down payment (80 % of millennials say they want to buy a home, By: Ester Bloom). There are a lot of programs out there that can help people get familiar with the homebuying process and programs available for down payment assistance and other housing scholarships. I feel like not too many of millennials know about these, When I started to look for a home buying opportunity I had to find all this on my own.

We've all seen those movies of those lazy individuals we call millennials. These people are often depicted as dependent individuals that are either living with their parents or renting some shady apartment. That's the question has been proposed whether or not are they justified in doing so. It is obviously easy to say that they have a right to do so, but can it be considered rational in the days we live in. Are their benefits from withholding to buying a house. And maybe even this could be the redefining of the new “American Dream.”