[thoughtomator]

Yup, that combined with the Depression-level job situation.

Their “first house” debt load was spent on college instead, and they aren’t making enough money to even pay that off, on average.

And I suppose it should also be noted that housing prices are still insane - not quite bubble insane, but still about three times the historical norm.

Their parents and grandparents sawed off the bottom rungs on the ladder and saddled them with tons of deadweight. They ain’t climbing anywhere.

[Jack Hydrazine]

"Yup, that combined with the Depression-level job situation."



By my own rough estimate the real unemployment level is at least 19%.

The unemployment rate topped out in the US at 25% in 1933. Most people don't even realize that we are in an economic depression since the government has done such a great job at covering it up.

[dhs12345]

Don't forget the $7,000 yearly premiums for the government mandated healthcare. That is a down payment or partial monthly payment on a mortgage.

[Undecided 2012]

Wow, let me respond to many of the responses here
U 1st
First off we older folks didn’t saw any rung off for you to grow in America.
Fact is I’ve been to college and degrees for such and such don’t matter.
Here’s the deal, in the real world I admit it surely is in who you know.
But, here in the real real world is what you know.
It’s a crying shame that those regular manufacturing jobs that kids could follow their fathers are gone.
I like Trump’s tariffs on those foreign manufacturers. Sure things will be more expensive but bringing back our jobs will definitely help the inner city black folks who moved north in the first place.