The American Dream has long entailed the fabled suburban home with a white picket fence, car in the driveway, and kids happily playing in the mowed grass of a well-cared-for lawn.
However, while that idyllic image is still burned into the public consciousness as part of the vision of success and happiness, it’s quickly becoming a remnant of halcyon days.
Why? Because many young Americans, financially crushed by debt, declining job prospects, and rapidly rising home prices, have been priced out of a central component of the American Dream, with their enthusiasm for it dampened as a result.
Evidence for that comes from PropertyShark, which reports that:
Today, Millennials are still pessimistic about the possibility of homeownership, and Gen Z’s dreams have also been dampened.