Part 3/12:
Furthermore, Carlson points out that the American Dream of owning a home—particularly a small, normal house—is increasingly unattainable for young families. Apartments, even in desirable neighborhoods like the East Village, become substitutes out of necessity, not choice. The contrast underscores a broader crisis: the American dream seems to have moved out of reach for an entire generation.
The Data: A Mismatch Between Prices and Wages
While Carlson touches on the core issue, data paints a more nuanced picture. According to Realtor.com, the median listing price for homes in the U.S. stood at approximately $440,950 last month. Despite some drops in active home sales—pending sales declined by 3.5%—home prices paradoxically rose, reaching an all-time high of $399,633.