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 ...
Yeah, but the unemployment rate for government workers is 0.00002%, so that should make up for it.
Everywhere ya see 3 and 4 or more vehicled parked outside of homes...
We started seeing this trend 3 years ago....
Luckily? It sounds like your daughter, her class, you and the taxpayers got ripped off for a month.
This is why we need the separation of school and state.
Same here. Have a cousin with a house paid off ... 10 years from retirement. He and his wife are selling to buy a house 2x as expensive (plus very high HOA dues) and getting a mortgage for 50% of the cost.
I’ve tried to suggest he don’t do that ... downsize instead or stay put ... but he (and mostly his wife) will not listen.
Very well said.
This could be a silver lining for many families, especially young couples with younger kids who may get to spend more time with the grandparents than they otherwise would have.
That's one of the things I love about Hawaii. It's more the norm than the exception here because of the high cost of living. Kids grow up with more respect for their elders for the most part.
I really hope our kids can find something worthwhile here for employment that will enable them to get their own apartment but in the meantime I'll take advantage of our son-in-law's wonderful love of cooking healthy food.
Obama’s plan to eventually have all of us taxpayers living in communes is making progress!
April 7, 2010, 4:08 p.m. EDT
Number of U.S. households falls by 1.2 million
Recession forces adult children to stay with parents, more families to double up
By Amy Hoak, MarketWatch
CHICAGO (MarketWatch) — The number of American households dropped by an estimated 1.2 million between 2005 and 2008, even though the population increased by 3.4 million in 80 of the largest metropolitan areas during that time, according to a new study by a professor at the University of Southern California.
This does conveniently get them off the unemployment rolls.
It is the start of a lower standard of living - for most of us in this country. - Tom
Yep...
Some liberal professors are more cunning and clever, and they know how to indoctrinate. There is, however, a saving grace in that when students graduate they go into the real world and quickly get a taste of reality. Things like taxes, crime, and cultural rot are hard to miss, but the causes are not hard to track. Liberal ideas fade fast when reality bites.
What I have found is that they vast majority of liberals in higher education are people who went straight to college from high school, and then straight through graduate school without taking a break. To them the real world consists of theory, and talk, with an emphasis on someone else making sacrifices and taking action. Other types of liberals in higher ed are the people that failed in other endeavors and found sanctuary in academia where it is nearly impossible to get fired, no matter how bad a teacher they might be.
Of course, there is the self searching type of liberal who is busy still trying to figure himself/herself out. Because they understand that they are imperfect, they tend to excuse themselves and everyone else, except conservatives, of their short comings. These types are full of apologies and rationalizations. I am sure there are some others types I could identify.
Tell your daughter that she can look forward to more loons and losers in the classroom, but there are some conservatives she will come across. Social sciences, humanities, and education classes tend to be the worst when it comes to liberal nonsense. The physical sciences, economics, and business disciplines have fewer liberal professors.
"You betcha". Neighbors across the street had their 20-something son move in with them and just last month, my neighbor behind me had his son, wife, and two kids move in with him. There will be a lot more "togetherness" in the coming years.
Yep...
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