Posted on 01/15/2024 7:47:05 AM PST by Kaiser8408a
Housing is simply unaffordable under Bidenomics, a strange brew of big corporate green subsidies, political handouts (any wonder why Biden is forgiving student loans in an election year?) and bad Fed policy errors.
But young Americans don’t always have a sugar daddy like Hunter Biden has who are willing to pay for rent for political parasites like those in Washington DC.
Young adults used to dream of moving out of their parents’ homes and into their own apartments, but living alone has become a luxury not everyone can afford. Not surprising, since home prices under Biden have risen 32.5% while 30-year mortgage rates are up a staggering 140.5% under Clueless Joe.
But in growth terms (year-over-year), White House Propagandists Karine Jean Pierre and John Kirby will no doubt focus on the cooling of housing prices and mortgage rates … although both are reaccelerating.
Rent CPI is up 19.2% under Clueless Joe.
How does this impact younger Americans? According to a recent study by Intuit Credit Karma, 31% of Gen Zers are living with their parents because they can’t afford to rent or buy their own place. Overall, 11% of American adults still live at home with their parents.
In terms of earning potential, younger generations are at the lower end of the totem pole, so they’re more likely to be affected by rising rent prices.
Where’s the “strong economy” everyone always talks about? While the U.S. economy has steered clear of recession and unemployment remains near historic lows, Americans are still struggling to afford basic expenses. This is especially true for younger generations.
Remember, Clueless Joe Biden is in charge! (or Obama, take your pick).
(Excerpt) Read more at confoundedinterest.net ...
It shows. There seem to be more mama’s boys than there used to be.
Housing prices are too high for the income in our area. Families are beginning to consolidate.
Over 31% of Gen Z are teenagers. Meaningless stat.
And the sad thing is, most of those Gen Z’ers probably voted for it.
We really need to build more dense housing, especially in Blue states and cities where they have empowered zoning and historic preservation laws to make it impossible to build new buildings.
I’ve been reading too many of the Ukraine-Russia threads. When I read the title I thought it was about Gen Zeepers.
In 1969, one of my classmates said that his dream was to live in a suburban home with a front lawn and a back yard, and to drive a station wagon with his wife and kids and a dog in the back—and I, along eith most of my classmates, agreed. However, what was then a solidly middle-class lifestyle has become an impossible dream for most people in Joe Biden’s America.
Too many foreigners buying homes.
multigenerational households used to be the norm, not the aberration.
And that’s what we’re going to have to get back to. Keeping wealth within the family will require it.
My friend had to pay his landlord on time. She was a Chinese woman in Arlington, Virginia with a household of 15 people, of whom probably six or seven had jobs.
Her large household had buying power that a traditional American nuclear family could not generally match.
When I was selling my house in Reston, Virgina, my former co-worker from the Philippines said he was buying a house along with his two sons.
The average mortgage payment in America is over $2,800 per month.
Never mind the Z generation. Most American can’t even afford that.
On the other hand, fixer-uppers and low cost housing supplies have dwindled. Developers want to build big houses for more profit.
Where there’s a will there’s a way.
Kill grandma and your parents. Problem solved, without vaccines. Consider it economic justice.
Keep in mind, a house payment doesn’t just include the loan, it also includes the payments to the escrow accounts for insurance and property taxes, and those costs are skyrocketing.
Thanks for pointing that out, but if 27 is the upper age limit of Gen Z, it is still questionable. How many 25 year olds, even 20 years ago, could buy a house?
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