This explains a lot
mark94
Arizona
Monday, December 12, 2022 6:41 AM
A survey by Pew found that for the first time since the Great Depression, a majority of Americans aged between 18 and 29 were living with their parents
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Payroll numbers are increasing but the labor force participation rate is dropping. Discouraged workers who have given up looking for a job are not counted as unemployed. Most new jobs are part time jobs. Full time jobs with good pay and benefits are declining as a percentage of jobs. There is a record number of people working a second job, because they can't pay their bills with rising costs. More people go to college but get degrees with little economic value. The combination of increasing prices and lack of good jobs is forcing more young people to live with their parents.
Many people are working full time and homeless because rents are higher than wages. I want the housing market to crash bad. Fuck the greedy.
I would agree though that an adult past a certain age who has never left the nest that there is something wrong with them. Like the f, you don't want value freedom and independence? How un-American
Now many parents are so nice/cool to be around that kids don’t have the same motivation to bail from the comfort of a nice place, full fridge and free Wi-Fi. I am speaking from the point of view of middle class and above. Not sure how poor people get by but that’s a different topic.
People who think trade and technical jobs are beneath them, or don’t want to work hard enjoy enough to get a STEM degree, are failing.
Eventually she will figure out she needs to pull down the shade.
The rate of single motherhood in America is huge, I assume a lot of these young adults are just living with their moms who aren’t going be around all the time
Also - the older one is the more-likely once has savings they can access/depend-on when things get dicey (hefty 401Ks; IRAs; etc; that many have been able to grow over many years).
https://www.azfamily.com/2022/12/03/phoe…
https://www.mortgagestrategy.co.uk/news/…
https://www.wkyt.com/2022/11/30/despite-…
https://www.poynter.org/reporting-editin…
And the “moderate” left will pretend to care, then they actually don’t because of the joys of owning rental property in a progressive city and making that easy passive income.
And then the progressive left will keep…finding more people who will align themselves with the progressives for actually acknowledging a real problem. But alas, most of the proposed solutions so far are related to subsidies. And the moderate left is cool with that because woohoo for restricting supply even more and driving the remaining rents up.
Also, this trend of living with parents has gone on a lot longer than the past couple of years, it’s been an ever increasing decades long trend since the early 1980s so it’s not just the “current economy”.
https://www.pewresearch.org/social-trend…
Not that I blame tusclers who enjoy the status quo for what it is. As per what I just linked: “Men and women overall are equally likely to live in multigenerational households, but men are more likely to do so among those younger than 40 and women are more likely to do so among those ages 40 and older.”
…does a lot to explain why sex work has had so much cheap available options for a long while. There is a mantra on this site of The Divine Right of Dick but really it’s just longstanding structural issues in the economy. Cie la vie
By the way, inflation rate falls again for the 5th month in a row. Told you so!! https://apple.news/AiQDp8_81QTemHbVilt1D…
NEW YORK (Reuters) - U.S consumer prices barely rose in November amid declines in the cost of gasoline and used cars, leading to the smallest annual increase in inflation in nearly a year, which could give the Federal Reserve cover to start scaling back the size of its interest rate increases on Wednesday.
The consumer price index increased 0.1% after advancing 0.4% in October, the Labor Department said on Tuesday. Economists polled by Reuters had forecast the CPI gaining 0.3%.
In the 12 months through November, the CPI climbed 7.1%. That was the smallest advance since December 2021. Annual inflation is slowing in part as last year’s big increases drop out of the calculation, while Fed tightening is als
With today's prices and low wages you have to be completely out of touch with reality to complain about people staying home.
Skicuck you're a hypocrite with your right wing hate speech while enjoying hour wife's union benefits
Anyone has the ability to better their own circumstances in this country, but no one has ever bettered themselves waiting for a change of government to give them tailored handouts
Presence significantly since the 80’s when automatic COLAs were tied to the inflation rate, a virtual non existence in todays world. Unions have no flex other than having a seat at the table, and very rarely do they score big victories like they did when membership was at its highest in tye 70s and 80s. Another reason why wage inflation will be stifled gluing forward.
For a lot of affluent (or even perceived affluent) middle aged or older but still have another 10-20 years left, all one can do is hope for younger people to stay depressed and “not working hard” and staying with their parents. Because the benign version of doing something to improve circumstances is unionizing and striking, and the less benign thing that can possibly happen will be a lot worse. I’ve noticed a huge uptick in rhetoric online advocating for “busting out the guillotines” (basically doing something like the French Revolution here). It’s just comments for now, but that kind of talk hasn’t died off yet and seems to be spreading into more “mainstream” spaces. Enjoy!
I wasn’t criticizing you all I’m trying to point out that if you enter the housing market at some point, you develop the ability to regulate your living expenses, some things will rise in cost, but your cost of shelter, will become a smaller portion of your income stream and keep gaining value as long as you live there, and pay your mortgage
20fag. You're out of touch with reality. Block me senile bitch.
Fuck off Iceefag you stupid cocksucker, get lost bitch.
The housing shortage isn't simply caused by the government or real estate profiteers. A lot of it is that middle income people are fixated on having a big yard they'll rarely use. Even when they live in a high-population metro area. But this fixation seems to be declining among people under 40.
Wrong. The official mission for the Fed is
“conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy”
It’s a balancing act which has conflicting goals, which is part of the problem.
Prices remain high, but inflation is essentially over, but those who have reading comprehension problems will think both are the same. Prices are no longer going up since summer, even though the convoluted reports being sent to us from the Feds view is rear view and don’t reflect current real life events. Maybe reading clients’ fucked up statements is an accurate real life situation from SkiDumbs perspective, but he’s not necessarily swimming in clear waters. Pool or pond? Pond will be where SkiDumb swims.
I just spent two weeks in the Tampa Bay area. There are subdivisions popping up everywhere. I was shocked by the amount of construction. I doubt any of the local block masons, framers, dry wall guys, tile installers etc. have even noticed recent inflation. Seemingly plenty of housing.
But... starting price for most of these homes seemed to be in $700k - $800k range before upgrades and customization. I didn't notice any new construction of 1000-1200 square foot starter homes in the $300k range. That discrepancy maybe a large part of the reason it is difficult for first time home buyers.
it was always an investment, (in a place to live) even in the 1950s and earlier, the idea behind buying a home, as opposed to renting, was you'd be paying yourself (building equity) as opposed to purchasing a property for someone else (renting), it's become more sophisticated and obvious now, but owning a home was always the golden ticket to the middle class lifestyle.
It's like bragging about paying for college in the 1960s when it was almost free and telling people there's something wrong with them for not affording today's tuitions. Or telling someone they're lazy and stupid for not having 2k for an apt while your first one was like 200.
Below is a graph that was posted a while back that shows home-prices vs income and the exponential growth in that ratio - IMO that graph shows it's a different ballgame starting in 2000 and exasperated in the last few years (prior to 2000 that ratio was pretty stable over-the-years):
https://www.longtermtrends.net/home-pric…
How did white men benefit from segregation? Better bathrooms? You realize anyone anywhere can use racist hiring practices even now?
We definitely have a supply issue partially from NIMBY with regards to affordable housing and partially because builders just want to build mcmansions not starter homes.
Young folks are also getting more education and don't need to go out to have a social life thanks to the internet.
So many Americans have all their wealth bound up in their home that _any_ policy that drops housing prices is as popular as genital warts.
The Biden administration said they couldn't see inflation coming. I'm a smart and educated man but I don't predict inflation for a living, and I saw it coming. That's why I bought at very favorable rates in a geographically-constrained area. There's little room to build "affordable housing" around here. Like I said, NIMBYs--and the Mass ones are some of the worst--are gonna keep my house increasing in value.
Never fight the market.
https://www.realestatewitch.com/rent-to-…
when I brought my first house, mortgages were at 8% the rates always have fluctuated, best way to get ahead is just keep refinancing as you are able to, the rates will come down again. when you get your rate down your payment will get lower, that's how you play the game.
Housing-affordability has at least two components to it (for most people) - the price of the house - the interest-rates - back when you bought your first house at 8% house-prices were likely much lower and thus ownership likely more attainable even at 8%
BTW down payment was almost 50K saved it on my own over a 3 year period. I paid off that house in 11 years, the key is discipline and a work ethic, I am not the only person who ever did this.
This environment is a lot about the Fed trying f to regain credibility it has lost with too much loosened from the prior 15 years. They tightened way too late, and then way too fast.
How old do you think we are !?!
Rent prices saw the largest one-month drop in at least seven years last month, according to the real estate marketplace Zillow.
Rents are going up like crazy. Each lease renewal goes up at least 15% on top of these inflated prices.
And food is more expensive every time I walk into the store.