There is a serious economic crisis brewing that few seem to be paying attention. According to a new survey from Zillow Group Inc. (ZG – Get Report), approximately 22.5% of millennials ages 24 through 36 are living at home with their moms or both parents, up nine percentage points since 2005 which was 13.5% and the most in any year in the last decade. Between the student loans which cannot be discharged thanks to the Clintons (to get the support of bankers) even after they find that degrees are worthless when 60% of graduates cannot find employment with such a degree and the fact that taxes have escalated to nearly doubling over the last 20 years that is predominantly state and local, the affordability of buying a home has been fading fast. Despite the fact that millennials are eager to enter the real estate market, they’re bearing the brunt of the challenge directly caused by the combination of taxes and nondischargeable student loans.
Now 63% of millennials under the age of 29 cannot even afford the cost of homeownership, according to a CoreLogic and RTi Research study. The expense, in fact, is their number one reason for remaining a renter. In their research, they concluded that one-third of millennial renters reported feeling they cannot afford a down payment to buy a home. This is a sad response that is not being taken into consideration by governments.
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4 comments:
I'm personally glad that student loans can't be discharged in a bankruptcy - one of the few things those crooks got right!
If you get a crappy and useless degree - I should NOT be forced to pay for it...you should!
I have two living at home right now because neither one can afford to move out with the cost of housing. We did the math, and the only way they could make expenses would be to move into a homeless shelter.
Both have student loans and car payments. One is unemployed and having difficulty finding gainful employment. One is working full time in the career field he he went to college for, but isn't making enough to afford an apartment.
Employers are not paying enough of a living wage to make ends meet, and housing rents and costs are out of reach for most of us. It takes at least two incomes to make ends meet. If I was on my own with what I make from my job, I would also be living on the street.
Put these POS Liberal assholes in jail for nonpayment of their student loans! Screw them all. Bunch of Liberal Snowflakes!
Very expensive to live on the Northeast Coast of the nation. Head west where the cost of living is cheaper. Sometimes one must take a couple steps backwards to move forward. That's in EVERY generation!!
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