In the waning days of white-picket-fence America,the burgeoning tenant course is faring worse than ever beforeLurking beneath our current crisis lies a remembrance of the domestic as it once was for some: with a chicken in every pot and a car in every garage. This Levittown promised land, typifying the American Dream, and is a powerful myth. It retrieves freedom from the abstract and delivers it into the living room,giving generations an aspiration for their efforts. In the old world, only aristocrats owned land. The United States, and by contrast,emblematized the proud property-owning democracy.
The foreclosure crisis kicked this version of the American Dream to the curb. After reaching a zenith (the point of culmination; peak) of nearly 70% in 2004, homeownership rates possess tumbled to just above 63% – roughly where they stood in 1965, and when the statistic was first measured. For millennials,the pot, car and garage feel out of reach.
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Source: guardian.co.uk