The New York Times on Nostr: The American Dream Without a House? Believe It ========== Housing costs are soaring, ...
The American Dream Without a House? Believe It
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Housing costs are soaring, making homeownership increasingly inaccessible for young Americans; as of June 2024, nearly 10% of homes were worth $1 million or more, doubling since June 2019; the median age for first-time home buyers is now 35, up from 29 in 1981; millennials and Gen Z are redefining the American dream, focusing on community and personal fulfillment rather than homeownership; a 2023 study found that the most common definition of the American dream among millennials is having a family, while 88% of boomers still associate it with homeownership; the 2008 housing crisis shifted perceptions, with many young people prioritizing experiences over saving for a home; younger generations are investing earlier, with Gen Z starting at an average age of 19; the concept of the American dream is evolving, reflecting a shift from materialism to personal achievement.
#AmericanDream #Housing #Homeownership #Millennials #GenZ #RealEstate #Community #FinancialStability #CulturalShift #EconomicTrends
https://www.nytimes.com/2024/09/07/realestate/american-dream-homeowner-young-people.html
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Housing costs are soaring, making homeownership increasingly inaccessible for young Americans; as of June 2024, nearly 10% of homes were worth $1 million or more, doubling since June 2019; the median age for first-time home buyers is now 35, up from 29 in 1981; millennials and Gen Z are redefining the American dream, focusing on community and personal fulfillment rather than homeownership; a 2023 study found that the most common definition of the American dream among millennials is having a family, while 88% of boomers still associate it with homeownership; the 2008 housing crisis shifted perceptions, with many young people prioritizing experiences over saving for a home; younger generations are investing earlier, with Gen Z starting at an average age of 19; the concept of the American dream is evolving, reflecting a shift from materialism to personal achievement.
#AmericanDream #Housing #Homeownership #Millennials #GenZ #RealEstate #Community #FinancialStability #CulturalShift #EconomicTrends
https://www.nytimes.com/2024/09/07/realestate/american-dream-homeowner-young-people.html