American Dream Fades Amid Rising Housing Costs, Polls Show

The American Dream, particularly homeownership, is increasingly out of reach for many Americans, as rising housing costs and stagnant wage growth widen the affordability gap. In New Jersey, only 71 of the 100 largest U.S. metro areas remain affordable to married-couple households, with the New York City region ranking as one of the most expensive. A Wall Street Journal-NORC poll revealed that nearly 70% of people believe the American Dream no longer holds true or never did, with many citing the high cost of homes as a key barrier. CBS analyst Jill Schlesinger highlighted the 'Middle Class Squeeze,' where housing affordability requires an annual income far above the median wage, compounded by a slowing labor market and rising unemployment. Housing and Urban Development Secretary Scott Turner acknowledged regulatory challenges hindering new construction and contributing to the crisis, emphasizing the need to address these issues to revive the American Dream. President Donald Trump has publicly stated that the American Dream is dead under the current administration, underscoring the political and social urgency surrounding this issue.