"No wonder the American Dream took such a beating in the July 2025 Wall Street Journal-NORC at the University of Chicago poll. Just 25% of people surveyed believed they “had a good chance of improving their standard of living,” the lowest figure since the survey began in 1987. And according to 70% of respondents, the American Dream no longer holds true or never did. That figure is the highest in 15 years.
In full carnival barker mode, Trump is once again claiming “we have the hottest economy on Earth.” But the respondents to the Wall Street Journal-NORC poll aren’t buying it. Just 17% agreed that the U.S. economy “stands above all other economies.” And more than twice that many, 39%, responded that “there are other economies better than the United States.” It’s a hard sell when the inflation-adjusted weekly wages of nonsupervisory workers are still lower than what they had been in 1973, now more than half a century ago.
And economic worries are pervasive. Three-fifths (59%) of respondents were concerned about their student loan debt, more than two-thirds (69%) were concerned about housing, and three-quarters (76%) were concerned about health care and prescription drug costs.
Rising housing costs have hit young adults especially hard. The median price of a home in 1990 was three times the median household income. In 2023, that figure had reached nearly five times the median household income. And the average age of a first-time homebuyer had increased from 29 in 1980 to 38 in 2024."
https://www.dollarsandsense.org/the-american-dream-we-hardly-knew-you/
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