Posted on 04/08/2010 11:18:11 PM PDT by Lorianne
As I wrote Monday:
In really bad times, people who are evicted from their houses will not rent.
Instead, they will move in with friends or family for some time.
As the Wall Street Journal explained last October:
Driving the change [i.e. large numbers of rental vacancies and lower rents] is the troubled employment market, which is closely tied to rentals. With unemployment at 9.8% — a 26-year high — more would-be renters are doubling up or moving in with family and friends during periods of job loss. Landlords have been particularly battered because unemployment has been higher among workers under 35 years old, who are more likely to rent. Nationally, effective rents have fallen by 2.7% over the past year, to around $972.
As Zack’s Investment Research writes:
A smaller percentage of Americans owned their own homes in the 4th quarter of 2009 than at any time since 2000. In the 4th quarter 67.2% of Americans owned their own home, down from 67.6% in the third quarter and two full percentage points below the peak set in the fourth quarter of 2004.
(Excerpt) Read more at zerohedge.com ...
“Too many are going to college for no good reason and wasting money on useless social engineering classes taught by useless teachers.”
//////////////////////////////////////////////////////////////
Agreed and most of them will still have far less than what used to be a high school education when they graduate. Many of them will have less than what used to be an eighth grade education.
I know. The schools do not teach people how to take care of themselves anymore. They teach them the government will take care of all the problems.
Years back, family homes were multi-generational, and it was good for everyone.
Who says children need to move out at 22, or that grandparents should shuffle off to the nursing home / retirement village?
Part of the problems we face is the disconnect we have as families, and extend that to our communities.
Some financial hardships may allow us to reassess our priorities and lifestyles and we may find that common basics and each other were the most important things of all.
Another thing that contributes to this problem is that some companies simply assume that older workers are going to demand a higher salary than younger workers, and the result is that they never reach the point of salary negotiations.
This is hilarious. Probably one-fifth of all Americans who "owned" homes in Q4 2004 were so much in hock with ARMs. liar loans and negative amortization that they were owned, rather than owners.
There are no construction jobs. The unemployment rate for construction workers is around 40% right now.
The rental market is horrible right now. At least in Florida and Charlotte (areas where I own). Unless this changes soon, we are going to see even more foreclosures and their resulting problems because landlords with mortgages, such as myself, are finding it harder and harder to hang on.
And it's time for another met down. The last one was the 3 year meltdown. We're moving into the the 5 year phase now.
In liberal arts, I would agree. In math and science I would not. I have two girls in JC (16 & 17). Both are almost done with calculus, well into chemistry, etc. I've looked at the work and it's pretty good. Their English classes OTOH, are a joke.
Put me down for that list. I am working 40 hours 9 to 5 for just under ten dollars an hour after being self employeed for 16 years.
I am getting use to it now but I wanted to go lay on the railroad tracks out back for the first few weeks.
There are at least a few of us “useless” community college teachers out here teaching good conservative values. I ran across your post while prepping for my American government and history classes I will be teaching later today. Many of us community college teachers actually have had “real” jobs at one time in their lives, and what we teach is founded in reality and not liberal theory bullshit. My entire Social Science department is conservative, even the lone Democrat. But I do understand your point.
There are at least a few of us “useless” community college teachers out here teaching good conservative values. I ran across your post while prepping for my American government and history classes I will be teaching later today. Many of us community college teachers actually have had “real” jobs at one time in their lives, and what we teach is founded in reality and not liberal theory bullshit. My entire Social Science department is conservative, even the lone Democrat. But I do understand your point.
You are right, but take a look at this from another perspective. My great grandparents used to be the third world immigrants, (legal immigrants). Kids stayed on the farm until they joined the military, married or had jobs in town. Just in my life time, I have seen amazing changes in the way we live. I joined the military to see the world. No money for college and only the rich kids could travel on their own dime. My adult son has traveled all over the world without the military and we are not rich. I did not fly until I was 18, my daughter flew on a plane around 18 months. We became mobile and spread out around the country and world. For many, the family was something that got together for holidays and maybe a vacation so the kids could meet that cool but weird uncle.
At a time when the government wants us to rely on them for everything, maybe we could learn from those immigrants to rely on family.
The home building industry. :)
The American Dream?
My daughters English teacher spent the first 3 weeks of her last semester bashing George Bush. My daughter was furious. She paid for a semester of English, and this bimbo wasted almost a quarter of it on childish nonsense.
Luckily, the class laughed at the bimbos rantings and bragged about how they were getting out of English class homework for a month. No one took her seriously.
Cool. What College?
Yep. Even in the NYC-area, which has few foreclosures relative to other states, you do see more doubling up in suburban communities, mostly kids or other relatives moving back to wait out the storm.
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