The thing that makes the American Dream so special is that it doesn’t have to be a dream. In America, you can pursue education, homeownership, family, and stability. But can it really be attained? In the 1950s the white picket fence became synonymous with the American dream. It represented the comfortable life of the middle class with a home, a well-maintained yard, a loving family, and a sense of security. In 2024 the cost of living, the price of owning a home, and tuition are higher than ever before; there seems to be an absence of a “white picket fence”. So how will the younger generation adapt? More specifically, how does this affect BHS students’ future plans?
In 2024 the total cost for a four-year degree, including tuition and fees, on-campus housing, books, and supplies is roughly $146,000. The average US salary is $59,384. College is insanely unaffordable, yet numerous careers require a degree. After polling 30 BHS students, it was found that 94% plan on going to college, with 60% expecting to take out student loans. Almost everyone planning on going to college expressed that they needed it to enter their desired career path. The U.S. Bureau of Labor Statistics found that approximately half of occupations require some type of college degree.
The aspiration for homeownership has been historically widespread, but recent increases in home prices are altering this trend. A recent study from ATTOM, a leading curator of real estate data, has shown that the average rent for a three-bedroom home is cheaper than the cost of owning a comparable-sized home. In Bothell, the average price of a home is $964,495. In order to afford a home at this price, you typically need to make at least $200k a year, along with money saved up for a down payment. Part of the reason why houses are so expensive in the Seattle area is due to the tech companies that surround it. Tech companies drive up housing prices by attracting high-paid employees who need to live nearby for work, increasing the demand for a home. About 16% of BHS students surveyed said that they do not see themselves owning a home in the future.
50% of BHS students surveyed said they have rethought their future plans due to the cost of living and tuition increases. Some students said they have started to consider community college as an alternative to university, while others worry about being able to afford a family. Unaffordable prices in the U.S. remain a problem, and it’s unknown when a solution will be found. However, there is hope that the younger generation can view this as a chance to redefine success, moving beyond the traditional standards symbolized by the “white picket fence”.
