Essay on The American Dream to the American Nightmare

The mortgage crisis of 2007 marked catastrophe for millions of homeowners who suffered from foreclosure and short sales. Most of the problems involving the foreclosing of families’ homes could boil down to risky borrowing and lending. Lenders were pushed to ensure families would be eligible for a loan, when in previous years the same families would have been deemed too high-risk to obtain any kind of loan. With the increase in high-risk families obtaining loans, there was a huge increase in home buyers and subsequently a rapid increase in home prices. As a result, prices peaked and then began falling just as fast as they rose. Soon after families began to default on their mortgages forcing them either into foreclosure or short sales. Who was to blame for the risky lending and borrowing that caused the mortgage meltdown? Many might blame the company Fannie Mae and Freddie Mac, but in reality the entire system of buying and selling and free market failed home owners and the housing economy.

The idea of the American dream revolves around attaining happiness, success and equality. For higher wealth classes obtaining these components aren't a concern; but for many, the American Dream has become a nightmare. For the poor being able to obtain simple necessities such as food, clothing and shelter is a daily struggle. The price of being poor is a lot costlier then those in the realm of the wealthy. Based on the current economic and social systems in America it does not provide everyone with a fair chance to achieve the “American Dream”. In todays society many Americans believe money is the only way to happiness. True or not true, money certainly isn't a hindrance to obtaining the necessary components for survival. But if the American Dream is no longer about happiness and freedom it becomes solely about wealth and possession. "Money cannot buy happiness." (Anonymous, Spring Board pg.81) represents the concept that money doesn't necessarily play apart in your emotional well-being. Today, materialism is more important than character. Money isn't everything; you don't need it to be happy and certainly not to achieve "The American Dream". In addition to that, although money can jump-start your future it can also drive you into the ground. Dana Gioia, the author of "Money", says "...Money holds heads above water..." Implying money plays a crucial part in keeping your dreams alive while America demands so much. Although finances are a building block to ones version of the

From a young age, children all over the world are taught that America is the "Land of Opportunity". Their parents and their parents ' parents have experienced some type of fulfillment from the American Dream which prompts them to relay belief in it to the newest generation of Americans. However, nowadays, populations of Americans have become increasingly critical of the American Dream and what that dream entails. That particular group claims that the American Dream is now dead due to many different facets of society. Is it possible to demand the "death" of an ideal that is essentially the backbone of a powerful country such as American? There are people who argue strongly both for and against the death of the American Dream with the "for" side focusing individualism and the "against" side focusing on declining conditions in America. The passionate arguments from both sides make it clear to see that the Dream is unlike what it used to mean, possibly requiring it to evolve to fit a changing nation.

and had to look at other parts of the world for expansion. At the time,

Through everybody’s eyes is their own version of the American Dream. Whether it’s the stereotypical dream with a good job, a family, and a house with a white picket fence, or it could be just getting by at the end of the month financially. The American Dream doesn’t have a specific image but rather a particular mindset. Lots of people have a goal in their life that they have to work hard to be successful towards that goal, but in most cases that goal may be unrealistic.

The American dream has many meanings but only one that matters, which is having a job that you enjoy and appreciate and for your freedom to be known. The Public Broadcast Service published videos that explored the daily realities of the New York working class. One video followed the experiences of Walid Abdelwahab. He is a well known cart vendor working on the streets of New York city he traveled all the way from Egypt to succeed and have a better lifestyle. Walid has been vending all of his life to help support his family; however, he has faced many rigor moments but he still continues to work with a smile on his face, no matter what happens. This supports the existence of the American dream because he moved from a different country leaving everything behind so that him and his family can live a happy life.

To achieve higher expectations of success than the previous generations, and accomplishing what hasn't already been accomplished, can be considered the overall American Dream. Generally, every child wants to surpass the achievements of their parents as a natural act of competition and personal satisfaction. Throughout The Great Gatsby, The Grapes of Wrath, and Death of a Salesman, there is a constant yearning desire to achieve the “American Dream;” whether it be reality or illusion. Fitzgerald, Steinbeck, and Miller, all portray the ideas of the American Dream relating to the time period that they are referring to. The strive to achieve a goal whether it be to be the wealthiest or achieve a great life by hard work seems to be the template

We have come a long way from the publication of the Declaration of Independence in 1776. In hopes of change, colonies came together to declare independence against the British King for his indictments. The Declaration of Independence was made entirely opposing the Kings unfair motives, injustice of systems, and the absence of public services. For which these opposing actions towards the king, was the general idea to become the American Dream. That dream consists of equality, justice, and freedom. The dream of freedom is for everyone to say and do as they please regardless of sexual preference, religious believes, race and body image. Freedom is opportunities to educate oneself, to better them and their children’s future. But after

The American dream is all but a figment of the imagination that is unrealistic to attain since it is becoming harder and harder for any middle class to sustain itself in the middle or the poor society to prosper to the intermediate class. What once was possible is almost impossible to achieve success and wealth through hard work, persistence, and action. The top one percent of the American society is making it impossible for the lower class to hold on to hope for a better future. The richer are getting richer by remarkably increase profits. Yet, the lower class wages have either decrease in some sectors of employment or have remained stationary resulting in “income inequality. That is “…the extent to which income is distributed in an uneven manner among a population” (inequality.org). Today it is even more evident that the lower class is stuck, unable to go nowhere. Savings is almost none existence to the middle and poor classes yet, they are working harder than ever before. Fortunately by having a free democratic society take control over “wealth inequality” the economic difference can stabilize through unionization for all low-wage labor.

The American Dream. Three words that give hope to those who never imagined having it. Immigration isn’t something that can be understood by those who never went through it; it’s more than a term, more than some citizenship papers, more than a new country, it’s a completely new life.

In 2008 the real estate market crashed because of the Graham-Leach-Bliley Act and Commodities Futures Modernization Act, which led to shady mortgage lending or “liar loans” (Hartman). The loans primarily approved for lower income and middle class borrowers with little income or no job income verification, which lead to many buyers purchasing homes they could not afford because everyone wants a piece of the American dream; homeownership. Because of “reckless lending to lower- and middle-income borrowers who could not afford to repay their loans many of the home buyers lost everything when the market collapsed” (Tankersley 3). Homeowners often continued to live in their houses for months or years without paying any

The housing market had started to decline in 2007, after reaching peak prices in 2006. There was an extremely high amount of subprime mortgages that had been issued in the early 2000’s. Homeowners could no longer afford to live in their homes, payments started going to default, and foreclosures started to rise. According to The Washington Post, there were five contributing factors to the housing market crash: low-doc loans, adjustable- rate mortgages, equity line of credit, more money down than needed, and mortgage insurance.

The U.S. subprime mortgage crisis was a set of events that led to the 2008 financial crisis, characterized by a rise in subprime mortgage defaults and foreclosures. This paper seeks to explain the causes of the U.S. subprime mortgage crisis and how this has led to a generalized credit crisis in other financial sectors that ultimately affects the real economy. In recent decades, financial industry has developed quickly and various financial innovation techniques have been abused widely, which is the main cause of this international financial crisis. In addition, deregulation, loose monetary policies of the Federal Reserve, shadow banking system also play

Around 2006 the price of houses began to fall substantially fast. “The oversupply of houses and lack of buyers pushed the house prices down until they really plunged in the late 2006 and early 2007” (The Subprime Mortgage Crisis Explained). These actions threw investors into a big dilemma. In the beginning they believed buying the mortgages would bring them a profit, but quickly realized that the mortgages would cost them more financial damage than reselling the homes. “Nationwide, home vales have declined about 16% since the summer of 2006 and experts project that the drop will continue until homes have lost about 25% of their value” (Biroonak, 2008). In other words mortgage homes are “underwater”, that is, the mortgage owed equals or exceeds the value of the house (Biroonak, 2008). Investors and homeowners started to go more in debt trying to pay off their original debts.

Some people who became American didn't always have the perfect life, especially when it is taking place by individuals who struggled their whole life in a disadvantaged society. As a matter of fact they migrate to the United States so they can live their dream and to be able to acquire being called an American. Not only do they move, but also abandon everything in their old home, and move to the United States to start a new life. Sometimes children are left behind so their parents can come to the land of dreams. Due to that the many children are left without their parents in their life's. Therefore, the American dream is necessary for them because they don't have many things in their hands, such as clothing, wealth, an opportunity in life and a different lifestyle. They also look at many Americans in some countries and assume everything is simpler in the United States. Therefore, the desire of being an American can provoke into having various emotions. Occasionally when they don’t feel like they have reached their target, they may receive it in as their way of life is gone and turnover on their dream. But that’s not what an American is, an American is someone who is hardworking, shows patriotism to their country and freedom.