The American Dream: The White Picket Fence Home

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When people think of the “American Dream”, they typically think of the classic picket fence house and a family, but that doesn’t mean they should. I believe that millennials are in the process of changing current ideals to suit their lifestyle changes. The phrase “American Dream” was popularized in the 1930’s when the average life expectancy was just around 60. Now, over 80 years later, the average life expectancy is close to 80 and there is less of a biological rush to settle down. People are beginning to reconsider the “American Dream” of the white picket fence home for alternative options. Along with that young people are able to take more time to plan out their futures, deciding if owning a home will fit their lifestyle. Homes are also …show more content…

They want to travel to see the world and try new things. Not only that, but many people have jobs that explicitly require travel. Owning a home can be problematic for people like this, first with the monetary drawbacks and then the flexibility drawbacks. What sticks out the most is that the homeowner would still be paying for and maintaining this house. Travelling costs a lot and, to make it happen, most people need to cut out any unnecessary expenses and a house that no one is living in could definitely be considered unnecessary. Young people often don’t have a long term plan for their lives right out of college. Because the focus is usually near future, a young person might not know where they will be in a five years. In this case, the financial commitment of buying a house does not make sense until they are prepared to commit to a job or area long term. Living in a house on a short term basis will often be more expensive due to upfront costs. Over a short period of time buying a house is more expensive, due to upfront costs, so it makes sense to rent, which often costs less than a monthly mortgage payment. When owning a house people need to consider property taxes and maintenance. It is a necessary cost that people often don’t consider when considering the cost of owning a

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