The American Dream of Home Ownership Essay

America still to this day holds on to the idea of the “American Dream”. This is rather surprising in today’s society and the ups and downs that the nation is facing. The dream in the past was more about freedom and equality. Moving through the decades, this dream has morphed into something quite different. Instead of what America means for all of its inhabitants, the nation has become more individualized. Society has moved to interpret the dream of what America can do for the one. Instead of the unified nation, America has been known for in the past, a shift has started creating an inconsistency in who can realize the dream. The myth of the “American Dream” has been hugely affected by increased materialism, the gap in economic status, and the fantasy of “rags to riches” idea.

The American Dream has held a special place in the hearts of patriots since the very founding of America in 1776. It has been a subject of many authors who grapple with its attainability, and is a beacon of hope gazed upon by victims of circumstance. The Dream has been interpreted by great minds in various ways, and has been deemed both an evil deception and a great promise of a better life. However, the American Dream has morphed from this promise of opportunities and second chances--in fact, it has become viewed as a cause for societal competition and the reason for decreasing happiness among the American people. As Americans attempt to “achieve their goals,” and “keep up with the Joneses,” they subject themselves to the materialistic cycle of greed. Success, and the goal of the American Dream, has been redefined. To be put simply, the American Dream is now to be richer than one’s neighbor, despite the fact that happiness--and thus, the Dream--cannot be achieved solely through wealth and material goods.

Too many Americans have fallen victim to the crisis that has become the norm for our citizens these days. Lenders no longer want to work with individuals who have gone through the foreclosure process and for many it is not only their homes they lose. Some have lost their jobs and/or families, others fall into a deep depression and worst of all some have taken their own lives.

For many years, the idea that ones’ home being the largest investment was said as a complete sentence when in fact, it was only an incomplete sentence. Any duly licensed financial planner would finish that sentence by saying all investments are subject to market conditions, the value that investment could increase or decrease and other similar cautionary statements that their attorneys wrote to protect them. The American public only heard that their home was the largest investment and had never experienced, nor had their parents seen the value of their personal homes drop like they did in the past few years. They had never experienced the financial pain and although only a few years have passed, many have forgotten and are ready to jump right back into homeownership.

We have all heard of this intense rollercoaster ride that we are on called the American Dream. The term was coined by James Truslow Adams in 1931 defining it as “dream of a land in which life should be better and richer and fuller for every man, with opportunity for each according to his ability or achievement.” Since it’s arrival, the Dream has evolved from a pursuit towards “freedom, mutual respect, and equal opportunity” (Shiller) to later one of greed described by Shiller as being “excessively lustful about homeownership and wealth” beginning in the 1960s. Traditionally, the American Dream included features of a nuclear family, that is one with a breadwinning father, a housewife, and two kids, owning a white picket fence home, thriving without financial worries, and a happy family. There has been a shift in focus for the Dream caused by the Millennial generation and in turn they have included features that place an emphasis on equality in all aspects of their lives from family life to the workplace placing their own twist on the Dream. The American Dream has evolved over time to include equal opportunities, college education, and happy family.

While the motivation of the American Dream may be materialistic or moralistic, it is based on the sole property of opportunity. As shared by Martin C. Jischke in “The American Dream,” “the American dream is the ‘dream of a land…with opportunity for each according to the ability or achievement’” (75). Because the qualities of an individual are unique, the measurement of success varies. Improvement in any sense must be sparked by a window of hope at a richer life. The American Dream is easily attainable when paired with opportunity and a strong work ethic. Without the necessary investment of time and labor, the skill sets and knowledge of those working towards the American Dream are laid to waste.

2003). Abraham Levitt, a prominent builder, understood the importance of providing housing to people of every income range and he responded to the situation by constructing rows of identical four room apartments at Long Island, New York, that were offered to veteran war soldiers for only $60 a month (Jackson. 1985; Clapson. 2003). Levittown, the mass housing facility designed and constructed by Levitts, was vehemently criticized by architects for producing homogenous and suffocating environment and being antithetical to lofted architectural principles (Jackson. 1985). But the critics ignored the fact that, Levitt could not incorporate the lofty and stylist architectural designs that were hallmark of most of Victorian style villas and bungalows and yet produce houses on mass scale, in quick time and provide them for sale at most affordable prices. His aim was to construct the best houses at least cost to provide most economical housing. The fact was that Levitt had successfully fulfilled the demands and dreams of many Americans of owning their own house.

In previous years homeownership is was what people in the United States showed pride in, up until recent years after the fall in the market economy. The current homeownership in the United States have declined significantly since the years have passed and is now the lowest it has been in decades. Even though the housing market has been improving over the years in the United States, and the increasing homeownership rate is a worthwhile policy goal for America, home ownership still continue to decline.

The American Dream is indefinable. There is no one set of words or characteristics that the entire population assigns directly to its definition. With the American population consisting of people of various races, ethnicities, ages, classes, and genders, it seems trivial to even attempt to attribute a single definition to the concept of the American Dream. It is this inability however, to be confined within one single meaning, that allows for the American Dream to govern the desires and goals of the large and diverse American population. And, regardless of all of the heterogeneity within society, the American Dream is generally a goal of all American peoples. In examining this idea, I began to think about the specific meanings attributed to the American Dream for different types of individuals. I broadly outlined the American Dream for myself, to represent the belief in hard work as a pathway to success and raising oneself in society. Consequently, this higher position in society allows for the possession of increased amounts of power. My definition however, neglects to take into account the certain other societal constructs that could possibly have a decisive role in how to both define and achieve the American Dream for the wide variety of people who pursue it.

The American dream can be defined as the promise of living in America with opportunities for all, regardless of social class, and according to their ability and effort (Schnell, 2010). Proponents of the American dream believe that there is equal opportunity for all in the American society to achieve success. Success is not pegged on social status, race, or creed, but rather on an individual’s own efforts. The definition of the American dream has unique interpretations to different people. The most common meaning is that of a life of abundance and prosperity, characterized by economic rewards that enable one to live a middle class life of comfort. Here, success is measured by material possessions such as beautiful homes, cars, a high

The United States of America is the most powerful and wealthy country in the world. The varieties of class, individuality, religion, and race are a few of the enrichments within the "melting pot" of our society. The blend of these numerous diversities is the crucial ingredient to our modern nation. Even though America has been formed upon these diversities, its inhabitants- the "average American"- have a single thing in common; a single idea; a single goal; the American Dream. The Dream consists of a seemingly simple concept; success. Americans dream of a successful marriage, family, successful job, and own a Victorian-style home with a white picket fence and an oak tree with a swing tire in the front yard. The

Nowadays, many Americans wonder if the American Dream is still alive. At one point in our country, people felt that they could achieve success by working hard. However, after the economic hardships and recession of the 21st century, a number of Americans not only lost income, but some also lost their jobs. Although there has been slow progression to improve the economy, there are those who question whether or not the dream of Americans can ever be achieved again. With unemployment levels still high and salaries failing to increase, there certainly is doubt in most of Americans. In his essay, Brandon King formulates ways to redefine and change the way to look at the American dream. After analyzing King’s essay, one can see his view as believing that the dream is still very much intact. As he points out, the American economy is a very complex system that has had downfalls, but there is always a way to get back up from it. Regardless of your economic status (poor or middle class), if one has a working job, it is possible to succeed based on how much someone is willing to work to achieve their goals. As King would agree, the American dream is not only still alive and well, but anyone can reach success.

The new construction market in the mid 2000’s was flourishing. People saw building a home as an opportunity for a solid investment because prices and rates were so low that certain homes could depreciate extremely slowly. However, there would be a negative effect from all this low-cost new construction and few were aware of just how devastating it would be to the new construction market.

When the housing market collapse occurred I was much younger and not fully aware or advised of how serious the situation really was. Several of my family members owned homes then, but looking back now they sheltered their children from the situation completely. I realized still to this day I do not know how or what they were doing to get through the market collapse but I realize my situation could have been much worse. Now years later I am faced with the decision to buy a home someday like many in my generation and those looking to buy property again. But just like a growing society its citizens must learn from previous mistakes made in order to avoid the same outcomes and flourish.

In 1940s, the post-War America was facing a severe problem of housing shortage due to large numbers of returning army and labor migration. Architects were urged to find potential solutions to provide mass-produced houses, which are affordable for the average people, yet express the quality of modern living. Frank Lloyd Wright’s Jacobs House and Buckminster Fuller’s Dymaxion House are two examples designed to accommodate the rising demand in housing. They may be seen very different at the first glance; nonetheless they embody a reassessment of the needs of American family by architects and a futuristic view of American housing and living.