Here’s the number one concern for us Americans. Homeownership rate among young Americans is considerably lower than it was during the baby boomer era

[Blues Man]

The theme of this thread is how much Americans are struggling to achieve the American dream

I am pointing out why

It's not slave labor in China that's holding them back

 

[Lisa558]

But these young people don't want t buy a 1200 sf home do they ?

Excellent point. In 1970, a starter home had no central air conditioning, no garage, 3 bedrooms, and one bathroom. Young families raised families in such homes, and considered that middle class.

Today, a young family wants 4 bedrooms, 2.5 bathrooms, and 2-car garage. They would consider a smaller home with only a driveway lower class.

 

[sparky]

The theme of this thread is how much Americans are struggling to achieve the American dream

Sure.....

So let's not allow the myopic 'I got mine' crowd to demonize the up and coming generation's potential to do so

~S~

 

[Hollie]

Slave labor costs far less than automation

Which is why slave human labor for electronic component assembly... such as my ipad, (oops...), stitching clothing, assembly of toys, widgets, gadgets and useful junk is focused in China.

 

[Lisa558]

The reason that young Americans are struggling to achieve the American Dream is that they refuse to start at the bottom, sharing small apartments in marginal areas, and work their way up. They want to remain with their parents until they earn enough to buy a luxury condo or townhouse, and that ain’t happening.

 

[BluesLegend]

When you have local, county, city, state, and federal government parasites vampire sucking you dry it's difficult for young people to purchase a home. This over BLOATED government bunch of mooching sponges is a big part of the problem.

 

[Lisa558]

When you have local, county, city, state, and federal government parasites vampire sucking you dry it's difficult for young people to purchase a home. This over BLOATED government bunch of mooching sponges is a big part of the problem.

Young people have to lower their expectations, as well. When I was 25, I was renting a studio apartment. Nowadays, the 25-year-olds want to stay in their parents’ houses or, if the parents can afford it, subsidize 1-bedroom luxury apartments.

 

[Hollie]

Sure.....

So let's not allow the myopic 'I got mine' crowd to demonize the up and coming generation's potential to do so

~S~

The well trained Dem / Socialist youth in trendy gay alphabet, Amrica-loathing classrooms and colleges are taught that math is racist, that hard work is oppressive white privilege and that everything being free is an entitlement.

 

[sparky]

Sure.....now where did i leave my>>>>

~S~

 

[Lisa558]

Sure.....

So let's not allow the myopic 'I got mine' crowd to demonize the up and coming generation's potential to do so

~S~

What do you mean “I got mine”? I got mine after renting a studio apartment for six years, and then buying a tiny studio condo, where I lived for another nine years, at which point I could finally buy my own townhouse - just shy of 40. And THAT was with a college education in a career-oriented field, and 15 years of working up the ladder.

Today‘s young people want it all NOW while also complaining about having to show up at the office everyday.

 

[22lcidw]

The first thing we need is a housing price downturn. A good one. Unfortunately, the buyers for the last few years before it happens will lose out. And due to the government interfering before millions and millions of people lost out due to having families and not getting out when they could.

 

[Dadoalex]

Baby boomers, when they were younger owned homes at a considerably higher rate compared to today’s generation of young Americans. And that should be the number one concern for politicians in this country. Fix our horrible economy.


Substantially fewer of those born between 1981 and 1996 are homeowners today than Gen X and baby boomers were at the same age. Housing affordability is taking a toll on all generations, but the lack of entry-level homes and the dearth of new builds are particularly impacting millennials.”
…
“In fact, the median cost of a typical 20% down payment was about 85% of the average millennial household's salary last year. That's considerably higher than the 75% for Gen X and 64% for baby boomers when they were the same age.”

Millennial Homeownership Still Lagging Behind Previous Generations

Millennials are buying homes at a lower rate than generations before, with high housing prices, the lack of entry-level homes, and the dearth of new builds particularly impacting millennials.

www.investopedia.com

see the numbers don’t lie. The coronavirus lockdowns which were totally unnecessary helped to worsen this problem along with Biden inflation.

Politicians want us to give all our money away to foreign countries for their wars. There are still some politicians democrat and Republicans who care…. Few and far between it seems like though.

This country ain’t what it used to be and we have work to be done. There will be those who will claim “there’s plenty of jobs to be had”, might be true but looks like they don’t make any difference. Sure people can get a job at McDonald’s or Walmart. It ain’t nothing man. Back in the day you could get a job at a steel plant Be proud of yourself contribute to this country….. and be set for life. We’ve lost millions of those jobs and they haven’t been replaced.

Why are you upset?
Rich people owning all the resources is the very heart of capitalism.
You should be proud of what you've accomplished by destroying unions, minimally taxing the wealthy, and ensuring all legislation protects the collection of wealth.

good for you!
Mission accomplished.

 

[Care4all]

Baby boomers, when they were younger owned homes at a considerably higher rate compared to today’s generation of young Americans. And that should be the number one concern for politicians in this country. Fix our horrible economy.


Substantially fewer of those born between 1981 and 1996 are homeowners today than Gen X and baby boomers were at the same age. Housing affordability is taking a toll on all generations, but the lack of entry-level homes and the dearth of new builds are particularly impacting millennials.”
…
“In fact, the median cost of a typical 20% down payment was about 85% of the average millennial household's salary last year. That's considerably higher than the 75% for Gen X and 64% for baby boomers when they were the same age.”

Millennial Homeownership Still Lagging Behind Previous Generations

Millennials are buying homes at a lower rate than generations before, with high housing prices, the lack of entry-level homes, and the dearth of new builds particularly impacting millennials.

www.investopedia.com

see the numbers don’t lie. The coronavirus lockdowns which were totally unnecessary helped to worsen this problem along with Biden inflation.

Politicians want us to give all our money away to foreign countries for their wars. There are still some politicians democrat and Republicans who care…. Few and far between it seems like though.

This country ain’t what it used to be and we have work to be done. There will be those who will claim “there’s plenty of jobs to be had”, might be true but looks like they don’t make any difference. Sure people can get a job at McDonald’s or Walmart. It ain’t nothing man. Back in the day you could get a job at a steel plant Be proud of yourself contribute to this country….. and be set for life. We’ve lost millions of those jobs and they haven’t been replaced.

It's not Biden inflation that caused the entire world to be suffering from inflation, and it's silly to think so.... Sure, it's easy to say and repeat and blame Biden for all of it, but if you had any self awareness of what is going on in the world, you would know that in this horrible, and suffering inflation state that we are in, the USA is doing better than most in our circle of allies and others... NOT that this is much of a consolation prize!

As far as more boomers owning homes than recent generations,

Boomer parents had the GI BILL, where all those that served our nation during world war, were guaranteed a VA Mortgage with no money needed as a down payment. Boomer parents that served also were given a college education if they wanted one, free with the GI BILL..... Making it easier to fund and advance their own boomer children's home ownership and education.... Many boomers had the GI Bill too with Vietnam service via the draft...

Before the boomer generation, we were not crowded, with plenty of land to build....homes and land were a dime a dozen....now....not so much...plus we have all of the new regulations on building homes hurricane safe, flood safe, etc. and protecting our water and wild life, and ourselves with building codes on arsenic water and radon gas etc....raising prices of homes and land....

Then, decades of our incomes not keeping up with the Jones's and inflation, and here we are.....the present dilemma.....

 

[DBA]

Nobody believes you are an American, Fyodor.



Actually, this is a good thing. We had a housing crash in 2008 because a lot of people who had no business owning a home got zero down loans with no assets.

The Government pushed this, and the banks went along because they figured they could always sell the repossessed homes for more money as long as home values continued to increase.

The primary impetus behind the crisis was the Community Reinvestment Act, specifically the modifications made by Clinton in and then by Barney Frank. Spin away, but this is the conclusion informed, non-partisan intelligent people reach. Dopes like you will never figure it out. It is far too complicated.

 

[sparky]

What do you mean “I got mine”?

1 Corinthians 15:10.

~S~

 

[Edgetho]

The median cost of a home in 1970 was $23,400.00 The median cost of a home in 2023 was $410,200.00.

The median income for all families in the US, in 1970, was $9,870. The median income in 2020 was $44,225.00.

Pay people more and they will buy homes.

That is, without a doubt, one of the dumbest fucking posts in Human History.

Your answer to runaway inflation is -- More inflation.

 

[sparky]

inflation ...or.......>>>



~S~

 

[Lisa558]

1 Corinthians 15:10.

~S~

I’m Jewish. Stop directing me to the New Testament.

 

[iamwhatiseem]

The median cost of a home in 1970 was $23,400.00 The median cost of a home in 2023 was $410,200.00.

The median income for all families in the US, in 1970, was $9,870. The median income in 2020 was $44,225.00.

Pay people more and they will buy homes.

Yeah... cause magically prices would stay the same.

Labor is like any other part of an economy.
It is a supply. You have fewer people looking for jobs, and wages will go up. You have a lot of people looking for work, and wages stagnate.
And that is exactly what happened after the 1970s.
1) Women entered the workforce. Literally within 10 years, the labor force grew by about 40%. The result of that was very predictable. Wages stagnated. For decades. Benefits collapsed. Gone are pensions, gone are sick days, gone is affordable healthcare.
2) Outsourcing. Good Ol' Ross Perot, that little squeeky man had it absolutely right. If NAFTA passes... jobs will disappear and never come back. And that is exactly what happened.
3) Technology. Computerization has replaced millions of jobs. Robotics, 100,000s of jobs.

In the late 2010s - folks like yourself ranted about paying burger flippers $18/hr. Went on about living wages for everyone. And, partly due to the pandemic - you guys got it. Wages exploded for low end restaurant and retail jobs. Awesome - right!!... yeah.. for about a year. Then all those companies replaced workers with automation. Now they have no jobs.

It's called the real world.
We don't live in a fairly land.

 

[Care4all]

The primary impetus behind the crisis was the Community Reinvestment Act, specifically the modifications made by Clinton in and then by Barney Frank. Spin away, but this is the conclusion informed, non-partisan intelligent people reach. Dopes like you will never figure it out. It is far too complicated.

It began with the GI BILL/ VA LOANS....all the rest is history, trying to keep up with what the GI BILL gave that generation....