##s And Cons Of The American Dream And The American Dream

1411 Words6 Pages
The American dream is multifaceted, multicultural, and ever-changing, but one consistent piece of this dream since the 1920’s has been homeownership. As rural America became suburbia, the dream of owning a home became more achievable for a wider majority of the population. For many in American society, homeownership is a rite of passage to adulthood, and a home has become a symbol of social status. In 2008 the United States suffered a recession based around a mortgage loan industry that became careless and subprime. During this period, many Americans fell on financial hardship and realized their homes were not worth the money that they paid. Thus the great recession began, families were uprooted from their dreams, and many children of the millennial generation became disenfranchised with the old American dream. Nine years later much of the country has made an economic rebound. The argument could be made that because of the recession many millennials have turned their back on the traditional framework of the American dream, yet in all actuality, the dream is alive and well. Millennials are dealing with an economic imbalance, and thus the evolution of that dream is happening at a different pace than it has in the past. An evaluation of homeownership will show that the pros still outweigh the cons for many millennials. Socioeconomic factors are affecting homeownership rates among millennials, and some of these factors could be changed to improve homeownership rates. This
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