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The American Dream Might As Well Be Dead: Here's Proof

Oct 25, 2013
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When asked, people can still explain how they define the American dream. The only problem is, most of them don't think they have a shot at making it come true.

Nearly 80 percent of those who responded to a recent survey said the American dream involved owning a home. About half of respondents said going to college, getting married or having children were also important.

Sadly, only 43 percent of survey respondents said that achieving the American Dream is possible in this economy, according to the recent survey from personal finance site LearnVest and Chase Blueprint. (Worth noting: Learnvest's customers comprised a large portion of the survey respondents. )

Here's what's standing in the way of the dream:

College Costs Too Much: The price of undergraduate tuition, room and board at public colleges in 2010-2011 was nearly double the cost in 1980-1981. Most of us are going into debt to foot the mounting bills. The country's total student loan debt now surpasses $1 trillion.

Marriage Is Less Popular: In 1960 more than two-thirds of 20-somethings were married. By 2008 that number was more like one-quarter, according to Pew Research.

Few Can Afford To Move Out Of Mom's House: Only about a third or U.S. adults between the ages of 18 and 32 live on their own and another third are still stuck at home with mom and dad.

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