Millennials have been changing the “norm” of the American Dream for years now and they will continue to challenge the expectations put on them by the previous generations. Millennials are moving out later, getting married later, having children later, and buying homes later. It could be for any number of reasons like new career options for women, how hard it is to get well-paying jobs regardless of going to college or not, or how expensive taxes and homes have gotten over the years. Millennials have many reservations about owning a home probably because of the large financial responsibility it comes with and the lack of money available for them. In this essay the questions that will be talked about are the pros and cons of owning a home,…show more content…
If taxes were lowered for middle class citizens that may entice Millennials to start buying homes since the large amount of taxes often scare people off. Overall, prices in general would need to be lowered on every aspect of buying a home. As for factors that would decrease home ownership, there are a few as well. If Millennials continue to put off marriage and children, there will not be any need for large homes. If it continues to be difficult to find jobs after college, Millennials will continue to rent or even move back in with their parents at times. Young people these days also tend to want to move around quite a bit and buying a home makes that very hard to do as it could take months to sell a home. There is also the abundance of taxes that come every that can scare people off from owning instead of renting. Just like the pros and cons, it all depends on each person’s preferences and how prepared they are to own a home.
Lastly, is the debate if Millennials are ruining or redefining the concept of the “American Dream”. Personally, it seems to me that they are redefining it. Things and people change, and there is no way around it. We do not live in the 1950s anymore where everything was centered around having a wholesome family life. Women are more independent than before. Men and women both want more freedom than before. And, there is nothing wrong with that. The housing market
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