Staples of the American dream for decades have included a house, a car, plenty of food, enough disposable cash to occasionally go out on the town and a family with whom these luxuries can be shared. Millions across the country and around the world bought into the idea that hard work and determination in the U.S. could turn this socioeconomic vision into a reality.

But a new study suggests such a lifestyle is little more than a fantasy for most. In fact, there isn't a single country in the world – including the U.S. – where the average worker can afford to finance the American dream, according to a report from TheRedPin, a Canadian real estate hub.

The study goes country by country, factoring in average local wages and prices to calculate the regional costs of luxuries such as midsize homes (by U.S. standards, 1,480 square feet); electricity and high-speed Internet; cars and enough money for gasoline; food for a family of four; and enough disposable income to periodically dine out and attend movies or other events.

Researchers ultimately found there isn't a country on the map whose average wage earner could afford all of these expenses together. What's more, average consumers in Saudi Arabia and Oman are actually closer to financing these socioeconomic goals than the average American. The average Saudi household would only need to see monthly salaries climb by about $74 to realize the American dream in their own country, while U.S. workers would need hundreds of dollars in additional income.

"Ironically, ranked at third place, Americans themselves would need to earn $842 more per month to fulfill their own country's dream," the report said, noting that the current average U.S. after-tax salary of almost $3,000 per month isn't nearly enough to finance all of the dream's tenets.

The average wage earners in Saudi Arabia and Oman are actually closer to financing the American dream than those working in the U.S. Source: TheRedPin

And it's looking increasingly unlikely that the average American will make much progress toward financing these expenses in the near future. Rising home prices in the U.S. have been welcomed by existing owners who have been able to list their properties at higher values. But some analysts are concerned that those elevated prices have priced would-be buyers out of the market. And rising interest rates over the next few months are expected to make landing a mortgage even more prohibitive for lower-wage earners. That's ultimately problematic for the housing market, considering the national homeownership rate hit an all-time low in the second quarter of 2015 and has only rebounded modestly since then.

"Amid rising uncertainty and still modest income gains, not to mention rising rates, consumers face potentially more difficult times affording and financing a large-ticket purchase such as a new home," Lindsey Piegza, chief economist at Stifel Fixed Income, wrote in a research note last week.

TheRedPin's new study will likely serve to bolster arguments that America's middle class is slowly but surely eroding away, as other research has appeared to show. There's a growing pool of evidence suggesting inflation-adjusted wages have stagnated for decades, and a recent Pew Research Center report found that middle-class Americans have lost substantial ground in terms of income demographics. Since 1971, most wage earners in the U.S. have enjoyed middle-class status. But lower-income Americans accounted for 29 percent of the population last year, while higher-income workers made up 21 percent.

"After more than four decades of serving as the nation's economic majority, the American middle class is now matched in number by those in the economic tiers above and below it," the Pew report said. "Since 1971, each decade has ended with a smaller share of adults living in middle-income households than at the beginning of the decade, and no single decade stands out as having triggered or hastened the decline in the middle."

Another recent study from the Brookings Institution found that median wages fell in 80 percent of America's largest metros between 2009 and 2014.





Meanwhile, considering the Organization for Economic Cooperation and Development recently ranked the U.S. as the world's No. 1 country based on factors related to income, the ability to finance the American standard of living is even bleaker for those in the international community.

For example, the average Cuban national would need to see his or her salary multiply more than 95 times in order to live in a manner to which wealthier Americans are accustomed, according to TheRedPin's report. Research and analysis company Numbeo, whose data contributed to the report's overall findings, estimates the cost of living in Cuba is 33.45 percent lower than it is in the U.S. But average monthly salaries in Cuba only total about $25, making many of these expenses virtually impossible to finance.

"Residents of Venezuela, too, fall far short. With the worst inflation rate in the world, the socialist country's economy is crumbling," the report said. Venezuelan inflation recently climbed as high as 141 percent.

Inflation is hardly a sexy topic, and even its mention tends to make non-economists' eyes glaze over. But local prices play a significant role in the American dream's attainability. Assuming everyone in the world made an after-tax salary equal to the American average of nearly $3,000 each month, residents of countries like Japan, Iran, Venezuela, Australia and Ghana (all of which have inflation rates higher than what's seen in the U.S.) still wouldn't be able to finance the American dream.

In fact, it would take nearly four times the average American salary to live comfortably in Singapore, which in 2014 was named the world's most expensive city for expats. And consulting company Mercer last year ranked Singapore the world's fourth-most expensive place to live.

"Though Singapore is home to a rich culture, renowned cuisine and a diverse population, daily life is even more expensive there than it is in New York City," TheRedPin's report said. "Many of its staggering population live in public-housing tower blocks, and virtually everything (education, clothing, gas, groceries and alcohol) tends to cost more than it does in the U.S."

Local wages and prices throw plenty of variability into international comparisons, however. So while Singapore is widely considered to be an expensive place to live, data from the World Bank indicate it's also one of the richest countries in the world per capita. And that means many of its residents can afford the steeper cost of living.

Still, TheRedPin's study manages to highlight the international community's wide-ranging economic inequality while bringing to light several expenses that upper-class Americans can afford but may take for granted.