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In Obama Newspeak, this is a great time for family bonding. It gives parents more time to reconnect with their children that just dropped $50K to get a degree in Social Justice.
Absolutely, and as Pelosi added: now they get to write some poetry.
These big poll companies are highly questionable, especially Gallup and Pew. However, we do have some major problems. One can throw in this Harvard study, as well.
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Originally Posted by CDusr
"The Rent Is Too Damned High" | Zero Hedge
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“Cost-burdened” means you’re paying more than 30 percent of income for housing and “severely cost-burdened” means you’re paying more than half. “By 2011, 28 percent of renters paid more than half their incomes for housing, bringing the number with severe cost burdens up by 2.5 million in just four years, to 11.3 million,” according to the Harvard study, which was conducted with partial funding from the MacArthur Foundation.
Look at the map of states in this article and notice from my other article post via OS, the states.
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Blackstone's bonds were backed by rents from more than 3,200 houses located primarily in Florida, California, Arizona and Georgia, the company said this week. The group owns about 40,000 homes across the United States, including 1,255 in the four-county Orlando market, according to a new report by the RealtyTrac research company.
I blame the parents 100%. Any disgust or contempt directed at their kids is seriously misplaced.
Are these parents so co-dependent that they can't give up thier identity as parental authorities? Does the idea of having an empty nest scare the bejesus out of them? Will the couple not be able to stand each other's company with no kids around to molly-coddle?
As easy as it is to condemn the kids, they are in a twisted way, victims of their parent's incompetence.
I don't know why you are blaming anyone. It's not actually a problem.
This is the inevitable result of our greedy CEOs outsourcing millions of American jobs.
'According to a Gallup survey , 3 out of every 10 adults under 35 are still living at home.
Pew Research Center analysis found that 36 percent of Americans 18 to 31 years old were still living with their parents, the highest level ever recorded.
So what is causing all of this?
More Americans than ever before seem to be living in a state of “perpetual adolescence”.
The total amount of student loan debt in the United States has risen to a brand new all-time record of 1.08 trillion dollars.
-Student loan debt accounted for 3.1 percent of all consumer debt in 2003. Today, it accounts for 9.4 percent of all consumer debt.
Meanwhile, our young adults are still really struggling to find jobs.'
This is one of the major negative side effects of the global economy. Other parts of the world offer much cheaper labor cost because the standard of living and labor laws differ so much. This hit really hard mid-level skilled labor (manufacturing, IT, etc.) High skilled labor is still in demand here in the US but most working age middle class people can't be considered high skilled laborers.
For businesses to make more (which shareholders demand) they have to control/lower costs and the easiest way to control cost is by off-shoring jobs. The middle class will continue to lose because they aren't as connected and organized as businesses with their interest groups and lobbying. Any common sense taxes or regulations proposed by middle class interest groups will be shot down by the supply side only economists that make up the GOP political machine...
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Originally Posted by Bartleby9
I have quite a few friends who ended up moving back with their parents. Some in their 30's.
The problem is, especially in big cities, is that wages haven't kept up with the cost of living. Add to that student loan debt and its difficult for people to become self-sufficient like they were a decade or two ago.
1) Other parts of the world offer cheaper labor costs...that is exactly right. No one can deny that.
2) What we earn does not keep up with the cost of living....well, that depends. Cost of living meaning what we have grown accustomed to, or do we all really, in fact, earn enough to have a roof over our heads, food to eat, and heat in the winter?
The fact is, we have a standard that we don't want to go below, and we then claim that we need to be paid more. We blame everything on the "greedy" rich, and we vote to tax the snot out of them. The rich then leave to go to other countries where they can find cheap labor, and we lose jobs. As was stated, most people are not equipped for those remaining jobs that require higher skills, so we are stuck with jobs that pay lower. And then we can't afford to live like we want to live. So we turn around and blame the greedy rich, we state we should be paid more, and the cycle continues.
The fact of the matter is, we have no one to blame but ourselves.
I think it's not anyone's business to tell other people they should/should not live with parents. Whether people are mooching of their parents or not its got nothing to do with you, if parents are fine with it so be it. It's like so many still feel the need to tell people how they should live life and i think who the hell are you to tell people how they should live. If people mess up their own life for being to lazy or parents letting kids mooch of them and messing them up financially is their own fault and have to live with the consequences.
The truth is we live in a world where people want power and do that through money. Realistically the way the system is not everybody will have a high paying job even if everybody decided to get educated. Since people are not willing to pay higher wages for lower skilled work, people who work these low skilled work will have to live a different life. They will not be able to afford the big house, expensive cars and even have lot of kids or any kids at all unless they rely on tax payers.
The best thing for these low skilled workers is for families to stick together by living under the same roof. If they do this they can all help save money and pay the mortgage off which once its paid of they can then buy another house together and the future generation does the same. Done this way you get to live with people you trust, spend more time with family and be better of because you have spare money which you can use to spend on the lots of entertainment that we have available to us now.
We blame everything on the "greedy" rich, and we vote to tax the snot out of them.
and yet, capital gains taxes are still much lower than wage taxes... and corporate taxes keep falling, while personal taxes keep rising ... so obviously your perception of reality is off, here, because the federal government is not "taxing the snot" out of the rich. a trust funder might pay 10%, while a brain surgeon might pay 35%. our tax code is set up to benefit people who own things, not people who work.
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The rich then leave to go to other countries where they can find cheap labor, and we lose jobs.
Jobs were being shipped overseas 30 years ago
then we lowered taxes, and jobs kept being sent overseas.
then we lowered taxes again ... and you know what kept happening.
Anyone who has been paying attention can see that there is little connection between tax rates and job growth.
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As was stated, most people are not equipped for those remaining jobs that require higher skills
What jobs are you talking about? Who, exactly, is having a difficult time finding skilled workers in the United States?
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so we are stuck with jobs that pay lower. And then we can't afford to live like we want to live. So we turn around and blame the greedy rich, we state we should be paid more, and the cycle continues.
The fact of the matter is, we have no one to blame but ourselves.
we have no one to blame but ourselves, for encouraging the rich to accumulate an increasingly large share of American wealth, and leaving 99% of americans with less bargaining power, less ability to start a small business and compete with the big, entrenched players.
from what i can tell , the moral of the story is: wealth inequality leads to higher barriers-to-entry in many markets, and therefore hurts free market competition.
This move out thing was predominately a baby boom event, a blip in time. The overwhelming majority of young adults lived with their parent till they married and as you say, perhaps after they married, prior to that.
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Originally Posted by Chava61
In many countries adult children continue to live with their parents until they get married.
This is all true except 50+ years ago people married earlier from 18-24 years old. Now they wait till their 30's to marry.
So they do stay at home longer and marry later in life than 50 years ago or in other countries.
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