The American dream has morphed into a pipe dream for many people living in the U.S.
At the heart of the national ethos is the belief that anyone can rise from rags to riches through hard work and perseverance. In the past, that was symbolized by owning a large house with a white-picket fence, driving a nice car and having a happy, healthy and well-educated family.
The Association of American Residents Overseas (AARO) estimates that at least 5.4 million Americans lived abroad in 2023. The biggest share of expats (40%) are thought to live in the Western hemisphere — Canada, Central and South America — or Europe (26%), while 14% headed to East Asia and the Pacific.
Elise described in a video posted June 23 that for some the new dream was to “pack up and head to a quiet European town or a beachside village in Asia; somewhere where we aren’t being poisoned by our food, we don’t need 2-3 jobs to survive and where health care isn’t the luxury but the norm.
“Some place where people stop and appreciate the little things and enjoy the slow life; a safe place where the community comes together and supports one another.”
Clearly, the young American is searching for more affordability and flexibility than she believes she can experience in the U.S.
It has been a tricky few years from an affordability standpoint for many Americans. The Federal Reserve’s efforts to curb post-pandemic inflation by hiking interest rates have increased the cost of borrowing and reduced Americans’ purchasing power.
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