For generations, owning a home has been a key part of the lifestyle most Americans aspire to. But when the mortgage crisis exploded in 2007, it brought down the U.S. housing market — and the entire economy along with it.
The ensuing recession was an assault on the American dream of homeownership itself. The tidal wave of foreclosures, the crash in home prices and tighter lending standards have left some Americans unable or simply too nervous to buy a house.
NPR is examining what the American dream means to our culture, our economy and our politics. On Morning Edition, we'll explore what Republicans think of the American dream. In this installment, the view from President Obama.
The American dream — the idea that in this country anyone can rise from humble beginnings and succeed — is deeply woven into our national psyche. It's a promise that draws immigrants to our shores. And it's a staple on the campaign trail.
One American's dream can be another American's nightmare.
Consider: Some people long to live in big cities; others think cities have ruined the landscape. Some Americans love to drive big old honking SUVs; others see huge cars as pollution-producing monsters. For some people, the American dream is a steady office job. For others, the office is a sinkhole and the real dream is freedom from the office.