The short answer to the question is yes (as long as the definition of the American dream is limited to this one sense, which IS an important component).

The more important question is the followup question:
Can this dream be resurrected?

You have to define what killed the American Dream (as defined) before you can repair the damage.

There have been two important macroeconomic trends that have affected the incomes of children born in the 1980s relative to those born in the 1940s: lower Gross Domestic Product (GDP) growth rates and greater inequality in the distribution of growth

We debate the causes of these two factors depending on our politics, but one thing is clear. The policies driving the economy as a whole have been largely leftist and/or globalist over the last 40 years (or longer). Government has grown at astronomical rates and the debt has grown larger in turn.

Can this dream be resurrected?
Let's see how much a new administration strips away the leftist/globalist influence, and see what happens.

...and of course, even this approach doesn't take into account cultural trends that impact the economy. How many children are growing up with the goal of becoming a musician instead of an entrepreneur? How many children have been brainwashed into hatred of capitalism and/or hard work? How many children are being trained to be lifetime welfare clients?

Some of these factors may never be qualified or even recognized as having an impact on the economy

Thanks for another well researched article.