Posted on 04/21/2023 5:48:42 AM PDT by Kaiser8408a
Add the new penalty fees that the occupier of the WH is going to levy on those who are financially responsible in the name of “equity” will compound the problem.
The continuing destruction of America from within.
You’ll own nothing and be happy.
“You will own nothing and you will be happy…” - WEF 🤔🤨🤦♂️
I’m in a part of our state with a low cost of living, but rent here is getting to be $1000/mo for a well-used house trailer or tiny apartment
I don’t know how young people can ever get out of moms basement with that while making 15-20 bucks an hour
This wasn’t a generational problem. Printing money is what politicians do. I cringed when the interest rate went to zero. The reason is that government can now print itself free money. The only honest Democrat, Patrick Moynihan said, “politics is about who gets how much, when.” The fact that the Babyboomer’s were around when government started printing money is not causal. Had any other generation been in power at the time printing money for free would have happened then as well.
Interest rates were too low.
Older folks would not sell a house to get a mere .1% interest rate on the sales proceeds. Absurdly low interest rates under the administration of madrasa-educated Barack Obama created a housing shortage.
When interest rates are too low, housing prices become too high. When housing prices become too high, the risk of default rises, so potential borrowers that might shaft their lender generally can’t get a mortgage. Failure to promptly pay on a student loan is a sign of a high default risk.
Paying every debt promptly tells tells lenders that you are prepared to pay on a mortgage.
In the 1980s, I simply had to pay on my student loans on time.
They are serious when they say that we will own nothing.
Bill Clinton started printing money for his pet project of bailing out Mexico from their Peso Crisis in 1994. Pull up a chart of the S&P and look how it takes off in 1994.
My sister got married to her husband Gary in 1969.
One-bedroom apartments rented where they looked (Niskayuna, NY) for about $170 to $200/month. The minimum wage was $1.65/hour.
Now $15/hour is commonly paid, so expect to pay about nine-fold more for an apartment there - $1530 to $1800/month.
An “error” generally produces something other than an intended result.
thus sayeth the generation that doesn't want to pay off its student loans that THEY took out, and want everyone else to pay for!
I’m not a Millennial and that doesn’t change the facts.
But since you posted. College, cars, homes, most things were cheap for Baby Boomers.
I have no desire to beat up on Baby Boomers but this is part of the generation’s legacy- which seems quite awful at this point in time.
It's all relative. For example, a 9.5% interest rate on my first home was NOT cheap. Neither was the college education that I paid for myself working 4 jobs to pay for, so I could graduate with a whopping $25k in debt -- in 1985. That was REAL MONEY back then, try adjusting that for inflation and see what you get in today's dollars.
What you view as "cheap" back then only looks at the dollar amount, and doesn't adjust for inflation, so nice try.
Free clue: who voted for all the "free money?" hint: wasn't just the 'boomers, pal. Today's generation thinks everything should be free: healthcare, education, food, housing, transportation -- all of it.
Your entire blame game falls flat on its face.
It’s no “error.”
The proles don’t need home ownership.
They need to be in FEMA camps where they can be controlled.
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