Less than 20% of Americans say they're living the American Dream

[Tennis]

https://www.cnbc.com/2017/09/19/less...can-dream.html

Fewer than one in five Americans feel like they're living the American Dream, according to Hearth Insights' 2017 State of the American Dream report, which surveyed 2,000 people.

That dream is "a complex concept that involves a variety of factors," Anthony Ghosn, Hearth's chief executive officer, tells CNBC Make It, but says homeownership is the "most important element." Hearth helps Americans finance renovations.

Almost 40 percent of Americans do not own homes, according to the U.S. Census Bureau. Ghosn says nearly 50 percent of millennials rent.

"Millennials faced one of the worst recessions in American history, which made it tough to find jobs, especially as older generations delayed retirement," he says. "They also have to deal with soaring student loan debt and stagnant wages.

"On the housing price side," he says, "factors like development restrictions increase demand for the existing housing stock, which increases the [overall] price. All of these factors combine to make a down payment on a home unaffordable for many millennials."

Still, according to the survey, owning a home remains a vital goal. Two-thirds of millennial renters view homeownership as important to the American Dream. Millennials are 29 percent more likely than baby boomers to see a home as an achievement that reflects hard work.

What's more, when asked to select the three most important elements of the American Dream, respondents rated "owning a home I love" higher than any other option, including "starting a family" and "finding a fulfilling career."

Boomers are 16 percent more likely than millennials to think they're living at least some of the American Dream, according to the survey.

That's because, the survey reports, "Baby Boomers have had more time to build wealth, invest in their home and find fulfilling careers. Many millennials are still struggling to launch their careers and find a home."

Three specific threats put the American Dream at risk, the survey says, particularly for millennials: Consumer debt, lack of financial literacy and stagnant wage growth.

"I think all of these factors are tied together into a broader problem of people not feeling like they have control of their financial future," Ghosn says. "Many people graduate high school, and even college, without a basic understanding of how the financial system works.

"This lack of education leaves Americans vulnerable to deferred interest schemes and other anti-consumer antics from the financial sector."


Still, there's light at the end of the tunnel for millennials who aspire to own a home. The survey found that, among respondents who don't think they're achieving any of the American Dream, millennials are 49 percent more likely than Boomers to think the dream is within reach.

"There's a path to success here," Ghosn says. "We have to remember that a home, in addition to all of its emotional benefit, is a financial investment."

By taking the time to learn about basic finances and how to make rational decisions about money, "millennials [who want to become homeowners] can put themselves on a path to [achieving it]."

Not surprising given the wealth gap and rising inequality.
Which makes it really shocking that Bernie couldn't even win the Primaries let alone get elected. The one candidate who was actually going to allow more people to achieve the American dream.

[Ave07]

Stop letting foreigners buy property and close all the loopholes that allow them to do so.

[Barnabas]

Majority of americans live in major cities. People refusing to leave their concrete jungle to the greener pasture of affordable housing is the chief cause of this problem. Solution is to move out of the city.

[Skalm]

https://www.cnbc.com/2017/09/19/less...can-dream.html



Not surprising given the wealth gap and rising inequality.
Which makes it really shocking that Bernie couldn't even win the Primaries let alone get elected. The one candidate who was actually going to allow more people to achieve the American dream.

Millennials and hard work in the same article... lol...

[zorkuus]

Majority of americans live in major cities. People refusing to leave their concrete jungle to the greener pasture of affordable housing is the chief cause of this problem. Solution is to move out of the city.

If everyone moves out of the big cities it will create new big cities and housing costs will increase accordingly.

[dacoolist]

I consider the American dream (I live in America..): Freedom of speech, religion, and the right to own a gun/guns. But if you want to add onto this: a great job, a great family, and awesome friends + the free time to play games like WoW/Internet to listen to amazing dubs each day.. I don't know what else someone could want.

[Molis]

https://www.cnbc.com/2017/09/19/less...can-dream.html



Not surprising given the wealth gap and rising inequality.
Which makes it really shocking that Bernie couldn't even win the Primaries let alone get elected. The one candidate who was actually going to allow more people to achieve the American dream.

Thanks for the weekly nation bashing thread.
Did you already post your weekly fat shaming thread?

PS
Also boot straps
Also Canada's housing market is prime for a bubble burst. Have fun when it happens.

[Nasuuna]

Majority of americans live in major cities. People refusing to leave their concrete jungle to the greener pasture of affordable housing is the chief cause of this problem. Solution is to move out of the city.

away from a lot of jobs though

doubt a small town needs a software engineer for anything other than websites

[bladeXcrasher]

I believe Dusty Rhodes passed away already.

[Akka]

Majority of americans live in major cities. People refusing to leave their concrete jungle to the greener pasture of affordable housing is the chief cause of this problem. Solution is to move out of the city.

You tend to live where you can find a job. I don't live near a city because I love urban space.

[Tennis]

Majority of americans live in major cities. People refusing to leave their concrete jungle to the greener pasture of affordable housing is the chief cause of this problem. Solution is to move out of the city.

Obviously people are going to choose



over this

[cuafpr]

Obviously people are going to choose



over this

i'd choose the bottom in a heart beat....

[Pengekaer]

Obviously people are going to choose



over this

There's better air and there is probably more wild nature to be enjoyed in the second pic. Perhaps some strange people enjoy a bike ride more than a taxi-ride?
New York is loud, the air is bad and its expensive (not all have the abilities and ambitions to earn enough money to live in NYC). Also, one is lucky to get even 60 m2 in a place like NYC, even if they are quite rich.
Can't really be compared.

Also, you clearly showed a photo of NYC in the summer with leaves on the trees and a larger image of higher resolution and compared it to a smaller, lower-res image taken in the autumn when there are obviously no leaves on the trees. Is this a not-so-subtle attempt at manipulation? ;-)
I don't know Acey, your posts so often carry the scent of manipulation, passive aggression and a lack of respect for other's opinions. I wonder what kind of person you are, posting so many threads about alot of random stuff meant to shed the US in a bad light and Canada/Germany in a good light. Since I don't come here every day, or even every second day on average, I am not aware of how many threads you post or start, but it does seem there are usually at least 2-4 started by you when I do come by.It's odd.
I write 5-6 posts a week, and enjoy other stuff. Tbh, take some advice from a stranger (or dont, ur call); aren't there more exciting things to do than post all the time on MMO-C? :S

[araine]

Stop letting foreigners buy property and close all the loopholes that allow them to do so.

That will not solve anything. What you see on display is 40 years of trickle down economy and everyone below the 1% has gotten fucked hardcore by it

- - - Updated - - -

Majority of americans live in major cities. People refusing to leave their concrete jungle to the greener pasture of affordable housing is the chief cause of this problem. Solution is to move out of the city.

And you have jobs that pay enough out in bumblefuck america? no you dont just look on how poor the wages etc are in Mississippi and other deep red rural states it is beyond terrible since you will be poor no matter how hard you work and smart you are in those places

[MasterOfNone]

color me shocked. in a society filled with "give it to me now for free" entitled assholes, people are unhappy.....

[Sormine]

Stop letting foreigners buy property and close all the loopholes that allow them to do so.

Ah, a refreshing pepe alt right troll.

(Infracted)

[araine]

Thanks for the weekly nation bashing thread.
Did you already post your weekly fat shaming thread?

PS
Also boot straps
Also Canada's housing market is prime for a bubble burst. Have fun when it happens.

It isnt nation bashing by pointing out the facts if you think it is perhaps you should make sure we fix those issues that are so offensive to you that you think it is nation bashing just saying if you cant stand the facts just make sure we fix it and not just go nation bashing naaah naah naah i cant stand the facts as they are so it must be nation bashing fix the problem and you dont have to worry about your lack of proudness

[Deleted]

Considering the wealthgap 20% seems allot! Am I wrong here?

[araine]

Ah, a refreshing pepe alt right troll.

they always think blaming the immigrants will fix it, when the fact is those immigrants are a key core to the survival of the USA. without them you are fucked just imagine how bad it would be if you removed the billions foreign nationals invest in this economy and i can promise you the economic disaster of GW Bush will look like a strong economy

[araine]

color me shocked. in a society filled with "give it to me now for free" entitled assholes, people are unhappy.....

we dont have those people around but we have folks that are rightfully pissed of at the system where a 1 bedroom apartment costs 1500 dollars a month and we are supposed to finance that with 7 dollar wages really if you cant see how that doesnt work really feel sorry for your education