For much of the postwar era, Americans bought a starter home and watched it become an investment. Decades later, fulfilling the typical American Dream of a home with white picket fence dotting the front lawn has become all but unattainable, as home prices have soared 235% since January 2000. As a result, many young people are going all in on the stock market, viewing their brokerage accounts as the new American Dream.
“For younger adults who despair about ever being able to buy a home, investing in financial markets can be a great way to save until they can afford one,” Chen Zhao, the head of economics research at Redfin, told Fortune.
