Yesterday’s Poll:

Is the American Dream Dead?

More Poll Results:

Should Minors Have the Right to Vote?

Will Ron DeSantis Win the GOP Nomination for 2024?

Would You Support a Tackle Football Ban for Kids Under 12?

Do You Think It's Safe to Send Your DNA to 23andMe?

Should Costco Require Members to Show ID?

Here’s The Scoop

The American Dream is dead, according to Freddie Smith, a popular Florida realtor who has taken to TikTok to expose the harsh reality faced by millennials and Generation Z. With 422,000 followers, Smith highlights the financial struggles of today’s younger generation, who need a much higher salary than their parents did to live the same middle-class lifestyle.

Smith blames the housing market for moving the goalpost. Younger Americans trying to start their lives are often priced out of the housing market, making it nearly impossible for them to achieve what was once considered middle class. Just a few years ago, a $60,000 salary would have been enough to qualify for a home. Now, with the average house price sitting around $400,000 or more, people need to make about $120,000 just to qualify for a normal house.

Crippling student loan debt is another issue plaguing young people, with monthly payments often exceeding $1,000.

“The millennials, they’re the pinched generation where college essentially stopped working for most. The debt piled up, and the old American dream died, and we got left holding the bag,” Smith said.

Higher rent costs, student loans, and the expenses of raising children make it difficult for young adults to save for a down payment, qualify for a home, and make monthly mortgage payments. Spiking inflation only adds to the cost of living woes, particularly for young people dealing with these extra expenses.

The median home price in the country was $412,000 as of September, a 2% increase over 2022. In California, the median home price was a staggering $787,000. The old American Dream has vanished, and today’s younger generations are left to pick up the pieces.