Millennials have took over the working society this year. And if there is anything that the latest generation of workers are not interested in is owning vast and vast of private properties.
In America, owning a house means that you have what it takes to manifest in yourself the ‘American Dream.’ It is to be able to spend on what you need and want. As what Americans perceive homes to be their empires, the American Dream gives hope to the young in their own quests to get themselves their own castles. After all, owning a land means one can take care of himself.
The typical idea of the American dream is a home somwhere in the suburbs with white picket fence, with the subdivision perfect for raising a family.
However, as the world faces globalization and diminishing borders, millennials today are not inclined to home ownership as their American dream. In fact, the new generation have created a whole new way of living, doing work and so on.
While the baby boomers are more into getting homes in the suburbs, millennials prefer to rent homes in the cities where urban living is possible. Moreover, millennials prefer to rent for practicality. While working millennials probably can spend for their needs, paying downpayments for homes may not be viable as of the moment when they are still in the beginning of their careers. Maintenance costs associated with home ownership also adds to the equation.
In fact, one of the main problems of the working millennials is paying off their students loans. According to Human Events, to be able to pay off student loans has become one of the American dreams of each millennial.
In addition, millennials are also more inclined to going on adventures, meeting new people and exploring new places. Rather than paying for mortgages and the like, millennials tend to rather go on vacation somewhere around the world. This is probably the result of the globalization that is experienced by the world currently.
Although millennials dream to be financially stable, to live freely and safely and to be involved politically, there lies the idea that being independent does not mean they have to own a mansion, somewhere in the suburbs, too. For the millennial, the American dream is to be able to see the world and even beyond, and to always better themselves in the career they chose.
Are you a millennial? What is the American dream for you?
