U.S. jobless claims at 15-year low; consumer spending rises

Yahoo Finance ^ | 04/30/2015 | Lucia Mutikani

[Obadiah]

I wonder what will become of the single-family home in 20-30 years.

Ha, ha. That's what reverse mortgages are all about. People are becoming so destitute that they are selling their only remaining asset back to the bank to have a bit of remaining crumbs to live on. The banks, in turn, will flip that property to a developer for apartments or whatever.

[Steve_Seattle]

Also, a lot of single family homes are in disrepair because people cannot afford major maintenance or even routine maintenance like painting. When they are sold, the cost of rehab is weighed against the cost of tearing them down and rebuilding at a higher density. The result of that equation is usually foreordained if zoning laws allow it, and local governments are more ready than ever before to change zoning laws.

[subterfuge]

Point taken. I’m mainly talking about the 30 to 40 year old people who actually do work, but are struggling just to make ends meet. It’s all they can do to put a roof over their heads and feed themseves, let alone save for retirement. Of course the direction we’re headed “saving for retirement” will be illegal in just a few years. Not kidding.

Thanks president Jug Ears!

[hattend]

U.S. jobless claims at 15-year low; consumer spending rises

Yesterday's headline: GDP growth = 0.2%

So, I call Bullobama on today's news.

[hattend]

In 30 years when the millions of people hit retirement age with ZERO savings there will be carnage in the streets.

They'll all be 70-80 years old with no healthcare (hell, I'll be in the ground). What kind of carnage are you talking about?

[subterfuge]

Well, it looks like you read all the posts so you must have seen where I said I was referring to people in their 30s and 40s. So those people will be 60 to 70. And the only thing they WILL have is health “care” and nothing more. There will be millions upon millions merely subsisting on meager goverment handouts. Look it up. People aren’t saving because they can’t.

And if you don’t think 65ish people can’t do some damage you’re smoking some bad a$$ sh!t.