Article

Is the American Dream Changing?

October 20, 2016
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Ah, yes the American dream. Is it still relevant today? What does it mean to today’s generations—those in their 20s and early 30s graduating from school and finding their calling?

Traditionally, the American dream refers to the ideal that every US citizen should have an equal opportunity to achieve success and prosperity through hard work, determination and initiative. In a practical sense, it’s often characterized as having a stable job, a family and owning a home.

Do you identify with the American dream?

According to US News and World Report, many millennials are taking a slightly different approach. The good job, home and family are still important, but maybe not in that order.

The key issue? More young people are graduating from college, but 70 percent of graduates also have student debt to manage. They want to use their education to find a good job or take the entrepreneurial approach and start their own business. That ultimately means delaying parenthood and homeownership.

While the timeline and order of life’s achievements may differ, the American dream is still alive and well. The biggest difference in today’s generation is the primary emphasis on finding a satisfying career.

However, the white picket fence may not have to be put on the back burner.

There are approximately 2,400 homeownership programs available across the country that could help you save on your down payment and closing costs. This could help you get over that biggest home buying hurdle and put money towards home equity instead of monthly rent.

Find the right down payment program for your needs.