The labor force participation is at a record low level as well. So they sort of go hand in hand. Generally, you need a job to afford a home.
Owners vote Republican.Renters vote Rat.It’s not rocket science.
A very modest, older two-bedroom home near where I grew up recently sold for $224,000. Mainly because it was in the “right” zip code.
If every brick were plated with gold it would still not add up to that. A few years ago nobody would have paid $75K for it.
A classic case of buyers with more money than brains. Let the market bring prices back down to reality and you’ll see rates of ownership increase.
The Baby Boom is pretty much done. We now return you back to 1914.
W’s ownership society must be one of the worst executed plans in history.
I’ve been noticing a rash of ‘TINY HOUSES’ programs on the Home Shows. Is this the ‘ideal’ house of the future? Even they are priced $60+.
The future generations are destined to live in closet-sized homes if this country doesn’t turn around.
Good. Homeownership should be MUCH lower than 64%.
45% is probably ideal, considering 55% of homeowners don’t keep their homes up, don’t value their neighbors, and don’t manage their debts well enough to deserve them anyway.
I can’t tell you how many neighborhoods I’ve lived in that slid into the abyss of “Slummyville” over the past 62 years.
Millennials are drowned in student loan debt. This won’t change anytime soon.
Obamaeconomy in Obama’s America - Reversing the American Dream
Unless you work for the government, there is no stability in any corporation or loyalty from or to them between employers and as a result, employees too.
I came in to work one morning to find the executive VP was walked out for exceeding his in house catering budget. In the next few short months, everyone he brought in was walked out too. New VP shows up, walks out all the employees he knew from a prior employer in the industry who worked for us. Most of them were outstanding employees.
I have also discovered HR executives are compensated on a specific turnover goal. Not too high, but not too low based on their goals. A low rate in the one to four year employee. A 50% rate in the four to seven year employee(Those nasty 100% vesting years). Then again a declining rate in the eight to fifteen year employee, around 12%. Then to avoid age discrimination they leave the over 55 crowd alone. They just constantly humiliate and abuse them hoping they will quit.
A loyal and hard working manager is usually booted out. The empty tin can managers making all the noise are groomed until they have to make their first decision.
The American workplace is a scary layout these days. No loyalty or support among anyone or any group. So suffers the housing markets and those neighbors who just seem to come and go.
Record low home ownership?...Check Hoover..... uh I mean Obamatown.
Once the home ownership rates hits a certain low point expect the government to declare war on those lucky enough to own their own.
There is nothing wrong with a lower percentage of home owners. Many people don’t want the responsibility of home ownership. Retirement homes and assisted living facilities are becoming very popular and with a large population is always in a transient mode and it doesn’t make sense to own.
These writers need to cover all the bases.