The State of the American Dream

Why 71% of Aspiring Homeowners Are Pausing Other Major Life Decisions with Purpose.

To many, the American Dream still centers on homeownership. It’s a symbol of stability and long-term investment. So much so that some Americans are timing major life milestones, like starting a family, launching a business, or changing jobs around the moment they finally get the keys to their own home.

The Coldwell Banker 2025 American Dream Report* reveals that 71% of aspiring homeowners (defined as those who don’t currently own a home but want to someday) are delaying major life decisions until they can afford to buy a home and the ripple effects have yet to play out. This isn’t just a statistic; it’s a story about how homeownership is the new starting line for adulthood.

The Pause Button on Life
Picture this:

A couple postpones expanding their family because they want a backyard first.
A professional turns down a career opportunity in another city because they’re saving for a down payment.
Personal goals and even adopting a pet are put on hold, waiting for the first home.
Homeownership is deeply woven into our sense of readiness for life’s biggest decisions.

Homeownership: The Milestone That Shapes Everything
We wanted to understand how the idea of the American Dream is evolving. The findings are clear: for many, owning a home isn’t just a goal, it’s the foundation for everything else.

• Nearly 1 in 5 aspiring homeowners (18% each) are putting off marriage or having children until they own a home.
• 17% (each) are delaying career changes or even getting a pet.
• 15% are waiting to start a business/go self-employed.
• For younger generations, the impact is even more pronounced. 84% of Gen Z (ages 18-28) aspiring homeowners are postponing at least one major life decision until they can afford to buy, and nearly a third (29%) are delaying having children.

Why Is Homeownership So Central?
Despite rising prices and affordability challenges, homeownership remains at the heart of the American Dream. 56% of Americans say owning a home represents the American Dream to them, more than those who say the same for marriage/having children (42%), retiring by 67 (39%), or even earning a college degree (23%). 85% of Americans believe homeownership is still part of the American Dream.

Financial security is a big part of the story:

• 65% of Americans believe buying a home is a smarter long-term financial decision for most people than renting in today’s housing market.
• Nearly half of Americans (48%) see investing in real estate as a better way to build wealth than investing in the stock market.

Getting Creative to Make It Happen
Faced with tough market conditions, Americans are finding new ways to reach their homeownership goals:

• 84% of Americans are willing to make concessions to make home buying possible, like taking on side jobs (42%), buying less ideal homes like smaller or fixer-upper homes (35%), or moving to more affordable areas (35%).
  About a third have considered co-buying with family (36%) or friends/coworkers (33%).
  Some (11%) have moved in with parents or in-laws to save to buy a home.

Hope on the Horizon

Even with the challenges, optimism persists. Nearly two-thirds of Americans who don’t currently own a home (63%) would like to buy within the next five years, with Gen Z and Millennials (ages 29-44) leading the charge (70% and 72%, respectively).

The bottom line: Homeownership is more than just a place to live, it’s a symbol of stability, independence, and the freedom to move forward with life’s other big decisions. As Americans continue to adapt, the dream of owning a home remains as powerful as ever.

*The report includes data from a survey commissioned by Coldwell Banker and conducted by The Harris Poll among 3,068 adults ages 18+, among whom 885 are aspiring homeowners (i.e., don’t currently own a home, but would like to someday).