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The ‘impossible’ Dream

October 8, 2013

Interestingly enough, however, current teenagers and young adults dont really see it that way. That same poll found these two groups are much more optimistic about their futures than their adult counterparts. This is exemplified by the differences in the American Dream and what I like to call the American College Dream. In the real world, the American Dream (roughly the belief that American citizens will be able to provide for themselves and their families while enjoying opportunities, freedom and financial security) isnt as strong as it once was. Given a multitude of factors, including the unequal distribution of wealth amongst the American people, the current economic state, the rising national debt, the onslaught of terrorism, the recent government shutdown and the uncertainty of the future, many Americans are left doubting their existence, more The Elevation Group let alone the tangibility of the American Dream.

The New American Dream: It’s Not What You Think

Rohe and Watson frame it as an aspirational component of American citizenship. Others believe that you havent really made it until you own a home. However, the failure to own a home is generally not a source of stress in the same way that drowning in debt and the inability to retire are. In another section of the survey, in fact, we see just how important debt is to consumers. When we asked what financial goals are most important to respondents right now, being free of debt/credit card debt was at the top (33.4% of responses). The runners-up werent even close: Retiring at age 65 (11.6%), buying or paying off a car (11.3%), sending a kid to college (8.1%), buying a home (6.8%), paying off student loans (6.2%), paying off a mortgage (5.6% ) and buying a vacation home (3.2%).

Living the American dream in Jackson Hole, China

READ: Xi Jinping’s ‘Chinese dream’ a fantasy? Adorning the earthy-toned walls are colorful license plates from the U.S. states — including Wyoming — they have traveled to and a large framed copy of the American Declaration of Independence. “We want more freedom,” said Liu, 40, pointing to the framed copy she bought in Florida. “This is a milestone — (we hang it here) partially for the history, partially for our profession.” “Many people have been to the United States and enjoy the environment there,” Lu, 55, added. “Those who haven’t think this place is authentic America and they like it.” That’s proven to be a great selling point for developer Liu Xiangyang since he — with the help of an American designer — launched the Jackson Hole project a decade ago. He has sold almost all the houses, and seen the property value double over the years with the bigger homes now fetching $1 million each. Official data shows that a typical urban resident in China earned less than $4,000 in 2012. Annie Liu — who is not related to the developer — and her husband feel pleased about their purchase as early believers, and bought a second, bigger house here last year.

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