The last time US home ownership declined down to 64.4% (which the Census Bureau just reported is what US home ownership declined to from 64.7% in Q2), was back in the fourth quarter of 1983.
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It makes much more financial sense for young people (under 30) to rent rather than buy. That's exactly what I have done.
ReplyDeleteThe American dream is dead. Few can now afford either a House or a New car. Since the dollar doesn't buy much and wages have been on a downward track since 2008, we are now all screwed!!!! The U.S.A is now becoming a third world Sh**Hole just like Mexico and other Third world countries. Keep on in-sourcing and out sourcing our jobs. How is hope and change working for you?
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ReplyDeleteObama has nothing to do with it, but I can tell you right now the American Dream is still very alive, but has changed dramatically from what our parents think of it as.
My American Dream is having a job I love, a place I enjoy living, friends that care about me and freedom and equality for all. Young adults like me don't care about the nice car and the big house; it's all materialistic anyways!
Get used to it too! We are all now starting to vote and everyone else is, well, starting to die...
And yet prices remain falsely inflated.
ReplyDeleteSounds like 419PM should also be driving a Prius and riding his bicycle to work in the new bike lanes around Salisbury!
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