FAU BEPI Poll: Americans Hold on to Optimism About the ‘American Dream’ Despite Economic Pressures

Faith in the “American Dream” persists among Americans, even as inflation and housing affordability present hurdles, according to a new poll from Florida Atlantic University’s Business and Economic Polling Initiative (BEPI).

A slim majority of Americans (52%) believe the “American Dream” remains true today, while 42% think it was true in the past but not today. Floridians, on the other hand, when polled on the same question, had slightly higher faith in the “American Dream” at 53%.

The “National American Dream Sentiment Survey” examined the primary economic concerns facing Americans today, such as health care, debt and housing affordability, to see if the “American Dream” still feels attainable to Americans. The survey, produced by BEPI in the College of Business, offers an in-depth examination of how concerns about future opportunities are affecting Americans today. A previous poll measured economic concerns among Florida residents.

“The nearly even split amongst Americans shows a generational divide on the ‘American Dream,’” said Monica Escaleras, Ph.D., chair of the department of economics and director of BEPI. “While optimism about opportunity in America might be lessening, a majority of Americans are still holding on to the belief in better future opportunities for themselves.”

Everyday financial concerns affect Americans, with 89% at least somewhat concerned about inflation, and 80% are concerned about housing affordability. A vast majority (83%) are concerned about healthcare costs and personal debt.

Considering these concerns, only 54% are at least somewhat confident that their household will improve its standard of living in the next two to five years, while 15% are doubtful that their standard of living will improve.

“Americans are facing consistent concerns about everyday costs, health care prices, and overall debt. This level of concern suggests these financial stresses are facing the vast majority, cutting across income and regional lines,” Escaleras said.

Approximately 43% of those surveyed reported living paycheck to paycheck, while 26% stated that they do so occasionally. Only 48% have an emergency fund covering at least three months of expenses, and 44% of Americans considered leaving their area due to the cost of living.

When looking ahead to the future, 54.2% of Americans think future generations will have a better life, while 24% are unsure, and 22% are sure that they will not. Floridians had higher optimism, as 58% felt future generations would have a better life.

“Despite their attachment to the ‘American Dream’, a growing majority is struggling to realize it,” said Eric Levy, assistant director of FAU’s BEPI. “Optimism about the future persists but shows some signs of fading, especially when people look ahead to the next generation.”

The survey is based on a panel sample of American adults aged 18 and older. The survey was administered using online data collection using REP DATA. A total of 1,000 respondents were sampled between Sept. 30 and Oct. 10, with a margin of error of ±3.02 percentage points. Responses for the entire sample were weighted to reflect the national distribution of the American population by region, education, gender and age, according to the latest American Community Survey data.

-FAU-