Essay Sample: The American Dream's Provisions Regarding Social Status and Homeownership

Published: 2022-06-14 23:27:52
Essay Sample: The American Dream's Provisions Regarding Social Status and Homeownership
Type of paper:  Essay
Categories: Society American dream
Pages: 6
Wordcount: 1649 words
14 min read
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Homeownership in the United States is a bone of contention, and it has been reported to have increased to 64.20% in the fourth quarter of 2017 from 63.90 % in the third quarter of the financial year 2017. As a matter of fact, this phenomenon tends to provide a good opportunity for individuals to fulfill the aspect of their American dream of becoming wealthy members of the society. Lowery (2018), states that the rates at which Americans acquired homes increased 69.2% in 2004, and that period remains to be the apex of home acquisition and ownership in the country. However, Freddie Mac, who is the government's appointee for mortgage companies, comments that rate of home acquisition drastically dropped as a result of the effects of the Great Regression and the accompanying foreclosure crisis. He backed up his claims by indicating that the rates increased from 62.9% during the second quarter of 2016 to 64.2% towards the end of 2017 (Lowery, 2018). From the significant growth, it is clear that home ownership is an apple of America's eye as it is squarely enshrined in the American Dream. This makes America attractive to the world's population, and it could see a majority of Americans escape poverty. To examine the issue of home ownership in the United States, this paper therefore will look at the society level and home ownership in America.

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Equal opportunities can vary. It can mean that everyone has the same goal, but at the same time it can be adversely used to present different meanings. In response to the projects regarding the American Dream, every citizen is preoccupied with devising ways of attaining a better life (Lowery, 2018). Lowry further states that hard work and honesty are the only viable avenues through which American dwellers can tread to reach their desired destinations as well as attaining their goals, and this applies to both natives as well as non-natives. The application of hard work and honesty will translate America into a society in to which prevailing opportunities matter more than individual efforts and actions.

Sheller (2018), reminds us of the golden age as slated in the American Dream, and this age spanned between the 50s and 60s. Sheller asserts that the golden age was designed to help the acquisition of homes in America. It is also the same period that most of the individuals worked so hard to become something in life. In addition to acquisition sand ownership of homes, the golden age was to see provision of free education. The whole idea of free education was to model upcoming members' children, making them fit for the society as well as fashioning them in a way that they can take up opportunities that enhance their well-being through sober and profitable investments as well as running productive businesses that utterly improves their living standards (Lowery, 2018).

I have, over time, grown to know that home owning in the US is such, and I can fully declare that I agree with it since it helps a better part of the American population to explore and develop it, making US a better society. Poor people fight to survive while upper and middle classes also fight to further develop themselves into better individuals. The fact that there exists the concentration of wealth can be directly related to the concentration of power and as such, the aspect of equality comes mostly to the super rich. In addition to this, the privileged and powerful commanding crucial sectors of the society have never like democracy for reasons best known to them. It is this principle that determines the powerful members of the society, and as a result, the powerfully and wealthy population takes control of everything on the land. There is also the aspect of the political factor which has been used to significantly enhance the concentration of wealth and power. Consequently, wealth and power created has been used to help in the creation of more political muscles among beneficiaries, and it becomes a vicious cycle that never ceases.

For a long time, it has been thought that democratic leadership hands over power to the overwhelming majority (Lowrey, 2018). However, everything tends to be developing rapidly with time and it's just a matter of time that the democracy factor will be lifted and eliminated. The point of view of the independent life for individuals affect their thoughts and utterly weaken it. The consequence of this is that individuals hailing from humble and poverty-stricken backgrounds will suffer from the implications of elimination of democracy. For instance, they will not be able to access happy and good life (Lowrey, 2018). The belief of increasing wealth through democracy is a lip service according to the American dream because it is practically impossible. It forms the basis of Chomsky's criticism of the American dream. Chomsky says that the American Dream is a fallacy designed to maintain poor's hope for economic growth and stability. As a result, these individuals will work hard anticipating wealth.

Lowrey (2018), states that 22% of the American people were poor during the 1950s, and these figures drastically dropped to 12.7% as at now. In fact, today's life is much more vibrant society. However, this does not mean it would be easy to be rich. Owning homes is the epicenter of the American dream, thus it remained the number on obsession of the American people for a long time until recently, and any attempt of forwarding this idea to Americans today will not stimulate their interests. Because homes were soft spots for many, everyone talked about finding a luxurious home for themselves and their loved ones. A little push towards achieving the goal of home ownership is poisonous to the economic status of the economy.

Alternatively, a unique approach should be in place for America, as an equal society with similar opportunities, to follow to ensure full exploitation of its potentials and capabilities. Lowrey (2018), reports that a better part of American families could not foot their bills following the effects of recession period, and taxes rates rose significantly. In addition to this, gaining access to education of high quality has been a living hell to most Americans due to high costs.

Over time, the USA has always wanted all its citizens to be of same status, gain access to equal opportunities as well as a dream of a social order where equality runs every aspect of life. Such a model is based on American principles, and it promises a better future for all because it is an ideal recipe of success for America and the world at large. Despite the fact that inflation is hitting the land so hard, the upper 1% does not feel any pinch of this. Instead, they seem to acquire more wealth day by day as evidenced in their increasing net worth and income during the last 40 years. It is clear that they benefit from America's economic growth to the extent that the economic crisis of the recession period did not affect them as compared to the overwhelming majority. As a result, the remaining 99% of the population has been suggesting that these individuals' taxes increased so as to narrow the gap existing between them. Their suggestion is backed by the need to ensure an economic equilibrium in the society and this is as a result of the fact that the upper 1% are enjoying luxurious lifestyles evidenced by their quality education, good health, established family structures, high income and longevity. The case is so because this group of individuals dominate the education sector, public service and live in the leafy suburbs. They, therefore, have all it takes to hand over their young ones all these privileges as well as protecting their rights and economic status, bundling out destitute students in pursuit of better financial opportunities, expensive quality education in schools and colleges, exclusion zoning as well as administration bottlenecks dictating the earnings and jobs of immigrants.

All of these phenomena are clear indicators that America is no longer a land of equal opportunities, but instead a class-based economy. The evidence of this is visible in the American society since the wealthier children tend to climb higher up the ladders as opposed to their poor counterparts. In light of this, having various changes in the policy can be significantly helpful in enhancing conditions of the poor. Serving as examples are the wide distribution of abortifacients, strict requirements for college admission as well as regulating the tax expenses among the middle-class and the upper 1%. In addition to this, there's need to institute a provision of children's allowances that works towards a brighter future (Forbes, 2018).

Another important fact that need crucial action is the aspect of the wage gap. The existing wage gap between black and white should be reduced. There's a possibility that doing away with government policies regarding race and discrimination can potentially bridge the gap (Shiller, 2018). However, in certain cases, putting forward sensible policies, all the time, is a recipe for comfortable in politics Sheller, R. (2018). The other group which plays a significant role is the upper middle classes. They tend to be playing the role through changing the scenario by voting for higher taxes, denying others fair chances and opportunities to share the wealth. However, the members of this class have a belief that they have everything because they deserve such privileges than those below them. They do not support government policies benefitting others except their fellows.

References

Forbes.com. (2018). Forbes Welcome. [Online] Available at: https://www.forbes.com/sites/peterhigh/2017/10/03/is-this-the-end-of-the-american-dream/#25fa0bd668cd [Accessed 24 Apr. 2018].

Lowrey, A. (2018). The Hoarding of the American Dream. [Online] The Atlantic. Available at https://www.theatlantic.com/business/archive/2017/06/the-hoarding-of-the-american-dream/530481/ [Accessed 24 Apr. 2018].

Shiller, R. (2018). The Transformation of the 'American Dream.' [online] Nytimes.com. Available at: https://www.nytimes.com/2017/08/04/upshot/the-transformation-of-the-American-dream.html [Accessed 24 Apr. 2018].

The Economist. (2018). The cost of the American dream. [online] Available at: https://www.economist.com/blogs/democracyinamerica/2017/09/inequality-opportunity [Accessed 24 Apr. 2018].

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