New Kid on the Blog - The American Dream - What will it Look Like for My Children

The American Dream - What will it Look Like for My Children

Mar 14

Written by: Chris Krehmeyer
3/14/2009 3:12 PM

I was born on the last of 1961 and just about everyone in my generation and the generation before me had a notion that the American Dream is rooted in buying your own single family home. That was our aspiration. It was a symbol of our success and then the springboard for our children's success. Like me most working class people look to our homes to be our nesteggs to help build our wealth. We have some pension put away - a lot less now than a year ago but our homes were viewed as our "ticket" to both retirement and helping our childen and grandchildren.

The shift that that has taken place in the last 10-15 years where technology allows us to be incredibly mobile and have the world in our pockets leads me to believe that the idea of the American Dream is beginning to change and will indeed change significantly in years to come. My 20 year old Nick has told me that as of now he has no interest in owning a single family home like the one he grew up in - "maybe a condo" he says. I told him of my recent article in the paper and he informed me politely that he does not know anyone who reads a newspaper. Who am I to pass judgment on this next generation - I do want to pose a question;

What will be the next American Dream? Please let me know what you think.

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5 comment(s) so far...

Re: The American Dream - What will it Look Like for My Children

How funny my 26 year old owns his house but thinks this is not the right investment. He thinks the American dream is one of travels. My girls want the home , fence and travel.
We are blessed with whatever we have at any given moment!!!!

By christy kramlich on 3/16/2009 7:42 AM

Re: The American Dream - What will it Look Like for My Children

Chris - what a great article. I think that for the next generation the idea of the American Dream is definitely changing.

We've also been asking the same question - we've had a series of students, and others, provide feedback on how they see the American Dream. Here's the link if you'd like to check it out stlmortgagecrisis.wordpress.com/your-experiences/

By Ross Rocketto on 3/16/2009 11:57 AM

Re: The American Dream - What will it Look Like for My Children

What a great piece - kudos to KETC for not only their continued leadership on this important topic but for always looking for where it will take us next.

By Chris Krehmeyer on 3/16/2009 2:33 PM

Re: The American Dream - What will it Look Like for My Children

Chris,
First, good to know that you are the older one; my fear is that the American dream of my 2 daughters (both under 3) will be to finally be out from under the mess that was made through this financial crisis. Kind of like when you (generalized) are finally done paying off those college loans.

All the best.

Lou

By Lou Tisler on 3/19/2009 7:49 AM

Re: The American Dream - What will it Look Like for My Children

I too was born in the early 1960's and I remember looking forward to Saturday because I was expected to help my parents' do work around the house or I would go to a friend's house whose parents were working on their home. In the 60's the fear of children getting hurt was not really considered, so we were allowed to build (somewhat dangerous) structures, tree or club houses, go carts, bike ramps.....Today, needless to say, Max (age 11) and his friends are not allowed to play with building tools, rather they spend Saturdays riding bikes with helmuts or maybe rollerblading with helmuts and padding.

So maybe owning a Condo or renting a home, where the legal liability is shared could be the future for working families?

I look forward to reading your blog! Thanks for another great topic!

By Jane Basler on 3/30/2009 7:38 AM

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