Chief
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What a great idea
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Chief
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THERE'S A WHOLE NOTHER HALF HOUR OF THIS
Rising Star
Think this guy is pulling out early
Rising Star
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As someone who is younger, the American Dream is dead. My age group doesn't long for a two story house, a family, and a nice car. We just want to survive, have a vehicle that gets us places, and have a little money to have a little fun with. We don't dream of mansions or walking the moon. We dream of job security and and affordability of life.
Chief
I wonder if it's area dependant. It does seem out of reach for Boston/NYC/California.
The dream isn't dead, but this younger generation is different. Previous generation had to work for everything they got. The generation after Gen X got a lot handed to them and they really didn't have to put in much effort. This new generation is feeling the hardship of having stuff given to them, they have no practical skills and then the rug gets pulled out when they are pushed out into the world.
On a different tangent, previous generations also knew how to deny/sacrifice comforts and luxuries in order to get what they wanted for their future. They hustled. (Brown bags and coffee made at home or in the office. No $8 cups of coffee, No extravagant lunches) This generation does not believe in sacraficing fun now for future comfort and stability.
Chief
What I find interesting is that basic necessities like food, housing and utilities are definitely more expensive but clothes are super cheap (and the quality SHOWS it). We often end up shopping secondhand because it ends up being way better quality than buying new. I also think little luxuries are so accessible and so tempting that it's easy to just spend without thinking much about it- and it really does add up over time.
The dream will be back for the average younger person if housing prices return to some sense of normalcy
Attitude makes all the difference
Chief
It's definitely the deciding factor in a lot. You can only control so much, and it's up to you to wallow about it or get to work.
It’s called a dream for a reason. Some people consider the rags to riches story to be the American Dream, whereas others see the dream as modest stability. We can’t all have our heads in the clouds. That’s a fantasy, not reality.
It was never easy to buy your first house even in the past. We had to save every penny, use coupons to buy everything, stand in long lines for Black Friday deals, not buying games but to slippers, clothes etc., we bought fruits that were on sale….
When i bought my first house, i had 10k in account after paying down payment.
I am not saying this generation is not saving money but it wasn’t easy for us either. I am 47 btw :)
Chief
Director, what generation are you? I'm curious.
Its there, but its just much much harder to obtain
I was at a great event in NYC celebrating the 250th birthday of this country.
A similar question was discussed.
One of the panels said something along the lines of
Imagine being at the 200th birthday of the country celebration like this we would be talking about the fact that New York City is coming out of a severe financial crisis was nearly bankrupt forced layoffs cut services declining the quality of life 1800 murders per year in the city robbery and burglary were even more widespread than they are today The subway system was covered in graffiti and couldn't be used at night.
Manufacturing was leaving the city but financial services were not fully integrated into the city, Yes housing was cheaper boats that wasn't a lot of work.
The Westside highway to collapsed in 1973 and was closed abandoned but not just taken down because there was no money to fix it.
So, these things go in cycles.
Rising Star
While the environment is tough, for sure, as someone who graduated college right into a recession and double-digit mortgage rates (late 80’s early 90’s) me feeling is that the idea has changed more.
The American Dream when I was a kid in the 1900’s was a house, car, sending kids to college, and a little money left over to think about retiring some day. That house was probably 1800 sqft, that car sure wasn’t new, and some of that extra money was for a vacation that didn’t cost three months salary.
Chief
I do see more lifestyle diversity these days- people opting not to have children, to stay renting, doing a lot of travel, etc. I can't tell if this has always been the case and I just see more of it now, or if it's a recent development.