Posted June 09, 2016 by RentJungle
While many of the baby boomer generation might say that the ďAmerican DreamĒ is fading away Millennials might argue differently. The Millennialís American Dream hasnít faded, itís just morphed to suit the new generation.Itís predicted that as Millennials get older their priorities might begin to shift back towards the traditional American Dream values of home ownership and starting a family. But for now, the group born between 1980 and 2000 has different priorities when it comes to searching for a place to lay their heads.Many Millennials would give up spacious rooms and quality amenities in exchange for being at the center of a technology hub like Silicon Valley. They want to be within walking, biking, or public transportation distance of a downtown area. The average home size has fallen from 995 square feet to 950 square feet of space which really highlights the decreased importance placed on the size of an apartment today. People are in search of efficiency and convenience rather than wide open spaces.Millennials are also searching for flexibility. Home ownership doesnít afford that. Strapped with a mortgage and a home to take care of, it makes it difficult to pick up and move at a momentís notice. They would much prefer the ability to move to a new city when the fancy strikes.Millennials would rather be debt-free and unhindered than stuck in a 30 year mortgage on top of their already staggering student loan debt.While certainly not true for all, a magnificent kitchen is no longer a top priority when you can order takeout or Seamless and have food delicious delivered to your doorstep. What used to be a necessity has fallen to a not-exactly-necessary addition.The American Dream doesnít consist of owning a home and a car and being married by 25 anymore. Perhaps it was living through the Great Recession and watching their parents struggle that made Millennials wary of settling down. Whatever the reason, the Millennial generation has morphed the American Dream to suit their wants and needs.What is the American Dream to you now? Has it dissipated to nothing more than a dream or has it just been altered? Share your thoughts with us on Facebook and Twitter.
Beware of rental ad scams: Rent Jungle is a rental search engine for apartment hunters and is not responsible for the content of rental listings found on the site. Rent Jungle encourages you to use common sense while apartment hunting. Beware of fraudulent listings. Click here to learn about common scams.