Is the American Dream Ending?

What’s the American dream? We all can improve our fortunes over time, if we work for it. Recent statistics  suggest the dream is in serious trouble. A recent study shows that every age group—except people over 65-- has less net worth since 1989. At the younger age band, accumulated college debt and poor labor markets have eroded net worth. Middle-agers tended to buy expensive homes with little money down, and later defaulted or simply have a home that has declined in value: “Households led by people age 35-44 saw the biggest drop, down 54%, with rising mortgage debt largely to blame. In 1989, these families had a median mortgage of $72,000 against a median home value of $145,000. By 2013, the home value for this age group was somewhat higher at $170,000, but the size of mortgages had nearly doubled to $140,000.” What do we hear in our presidential campaigns? Anything but this story.