You must conform to living in a box.
Posted on 08/10/2014 8:03:28 PM PDT by SeekAndFind
America’s wealth is concentrating in fewer hands, and while the rich are getting super rich, the once vital middle class is nearing extinction.
[SNIP]
But today, after decades of expanding property ownership, the middle orders—what might be seen as the inheritors of Jefferson’s yeoman class—now appear in a secular retreat. Homeownership, which peaked in 2002 at nearly 70 percent, has dropped, according to the U.S. Census, to 65 percent in 2013, the lowest in almost two decade. Although some of this may be seen as a correction for the abuses of the housing bubble, rising costs, stagnant incomes and a drop off of younger first time buyers suggest that ownership may continue to fall in years ahead.
The weakness of the property owning yeomanry comes at a time when other classes, notably the oligarchs and the Clerisy, have gained power and influence. Over twenty years ago Christopher Lasch argued that “the new class” was arising that “begins and ends with the knowledge industry.” For this group, the rest of society, he suggested, exists only “as images and stereotypes.” Progressive theorists, such as Ruy Texerira, have suggested that, in the evolving class structure, the traditional middle and working class is of little importance compared to the rise of a mass “upper middle class” consisting largely of professionals, tech workers, academics, and high-end government bureaucrats.
(Excerpt) Read more at thedailybeast.com ...
AUTHOR’S OBSERVATION:
Many people who once had decent incomes, and may have owned or hoped to own a house or start a business have slipped to the lower rungs of the economy.
In the future, we’ll all be Reuters....
“Progressive theorists, such as Ruy Texerira, have suggested that, in the evolving class structure, the traditional middle and working class is of little importance compared to the rise of a mass “upper middle class” consisting largely of professionals, tech workers, academics, and high-end government bureaucrats.”
Until your toilet backs up.
Thank the Federal Reserve, for fueling progressive, government-sponsored crony capitalism.
Yep. Try calling Google on that one.
It could be that they will be renters.
They like to move around.
It doesn’t mean they will save any money. In my neck of the woods, rental prices are insane.
I can’t stand articles like this. I call it “victim porn”, and it is all utter nonsense. I have seen literally dozens of people go from poverty or hopelessness to prosperity by starting businesses, large and small. The opportunities in this nation are unlimited. The greatest evil Progressives have committed on this nation is to suck the optimism — the age-old American optimism — out of millions of peoples’ souls.
“Until your toilet backs up.
Yep. Try calling Google on that one.”
Yep, the arrogance is astounding and perfectly illustrates the contempt the left has for the middle class.
bull crap.
the totalitarians on both sides would love it b/c searches and lockdowns and mass removals and crap can be done far more easily when you’re in a living cubicle.
You must conform to living in a box.
it won’t be as bad as they think. they forget to factor in a huge segment of boomers will die the next few decades and houses will be inherited. some may sell but some will use them.
1. If you don't own your own home you're an idiot.
2. If you don't own rental property to supplement your current income and help provide for your retirement then you're an idiot.
3. When leasing out your rental property, make sure you don't rent to idiots.
Future? Try now. Even if you don't have a mortgage just see what happens if you stop paying property taxes.
Find the blame in the loss of 60,000 manufacturing facilities since 2000.
Quick! Buy rental property!
We’re all renters in 49 of the 50 states, now.
If you can find renters.
“Until your toilet backs up.”
LOL. Very well stated. Cuts through all the fluff of that crappy statement.
RE: We’re all renters in 49 of the 50 states, now.
What’s the one state where we’re not renters?
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