In a recent poll conducted by CBS News, a significant majority of young voters under the age of 30 expressed growing concerns about the challenges they face compared to previous generations.
The survey, published Sunday, revealed that 82 percent of registered voters believe it has become more difficult to purchase a home, while 76 percent feel the same about raising a family. Additionally, about 70 percent of respondents noted that securing a good job has become harder over time.
The Federal Reserve’s decision to maintain interest rates at a 23-year high has prolonged the affordability crisis in housing, compounding the financial strain on many Americans. Despite recent moderation in inflation rates from its peak of 9 percent two years ago, the Fed remains cautious, citing a still overheated economy, robust labor market, and ongoing price pressures as reasons to delay rate cuts.
Throughout spring, mortgage rates continued to climb, reaching over 7 percent last month for the first time this year. These escalating rates have further complicated the already challenging landscape for prospective homebuyers, particularly younger voters who are entering or establishing their families.
The poll also highlighted broader sentiments among younger voters regarding their future prospects and societal conditions. Many respondents expressed a belief that older generations have left them with a less favorable environment, fewer opportunities, and a world that feels increasingly precarious. Despite these concerns, a significant majority—62 percent—maintain optimism about achieving the “American Dream,” underscoring a resilient aspiration for economic stability and prosperity.
Recent economic indicators, such as the May jobs report showing a notable increase in payrolls and wage growth, offered some positive signs amidst the prevailing uncertainties. However, the persistence of challenges in accessing affordable housing and securing stable employment underscores the complex realities faced by younger generations striving for financial security and upward mobility.
The CBS News/YouGov survey, conducted from June 17 to 24, involved 2,460 adults, including an oversample of 743 adults aged 18-29. The overall margin of error for the survey is 2.8 percentage points, with a higher margin of error of 5.2 points for the oversampled younger demographic. These findings highlight a widespread sentiment among young voters regarding the increasing difficulty in achieving traditional markers of economic success, such as homeownership, family stability, and career advancement.
In conclusion, the poll illuminates a sobering reality for many young voters who perceive a more challenging path to economic prosperity compared to previous generations. While optimism persists for attaining the American Dream, concerns over housing affordability, job opportunities, and the overall economic environment underscore the need for policies and initiatives that address these pressing issues to ensure equitable opportunities for all generations.
