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And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses competing for the household's budget.
And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses competing for the household's budget.
AmericanKulak says
And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses competing for the household's budget.
Lot of it to do with "keeping up with Joneses" .. The pressure especially from women/children is forcing the families to live on financial edge.
Responsible men are worse off in this society as they shoulder most responsibility but little say and still get blamed as cheapstakes.
If people live 1990s lifestyles they will live much better.
if people lived a 1980s lifestyle
Not possible with $420k homes and $75k incomes at 7%.
Hell, if people lived a 1980s lifestyle and were debt averse they would be much better off. Don’t live beyond your means, invest for retirement, and pay your house off 15 years of less so you’re spending less on interest.
ForcedTQ says
Hell, if people lived a 1980s lifestyle and were debt averse they would be much better off. Don’t live beyond your means, invest for retirement, and pay your house off 15 years of less so you’re spending less on interest.
Most of the world outside our country follows this philosophy today, I reckon.
In 1980s there were mostly single earners and the womyn cooked at home from scratch = no daycare and no inflated food costs to Uber over some shit sandwiches to their place. That alone freed up most of the cash to buy a home they don't have today,
Watch Months-of-Supply!
I was thinking about my childhood, which was working middle class. We had a 18 inch color TV with rabbit ears, and no cable, but still received about 8 TV channel signals.
We had only a Dodge Aries 4 door car that my family paid for in cash and brand new.
We rarely ate at a restaurant and maybe once every 3 months, and we never went on a vacation, and had family visit us and sleep in the living room.
Many aren't financially educated though or listen to msm propaganda
There was never any cash. There was borrowing cash at near zero rates that was used to buy houses.
gabbar says
ForcedTQ says
Hell, if people lived a 1980s lifestyle and were debt averse they would be much better off. Don’t live beyond your means, invest for retirement, and pay your house off 15 years of less so you’re spending less on interest.
Most of the world outside our country follows this philosophy today, I reckon.
In 1980s there were mostly single earners and the womyn cooked at home from scratch = no daycare and no inflated food costs to Uber over some shit sandwiches to their place. That alone freed up most of the cash to buy a home they don't have today, it's not just expectations, add in house price inflation and they surely aren't better off today, but I somewhat agree that they could do better with an attitude and strategy shift.
In 1980s there were mostly single earners and the womyn cooked at home from scratch
A lot of women were still the secondary income earners in the 80s.
Only 63% of working aged women are in the workforce? What % of working age men are in the workforce? Looks like about 75%.
I wonder as far as demographics especially for service workers and blue collar (from nursing home aids to dishwashers to construction helpers) that was one major reason for increasing immigration over the last 3 years, and eventually these workers will be home buyers.
For Bay County (Panama City) Florida, the starting salary for a public school teacher is around $48,000 and they get about 2.5 months off for summer, 1 week off spring break and 2 weeks off Christmas break.
Even will mass migration, we now have half the net people entering the workforce as leaving it as we did a decade ago.
Civilian labor participation is still not that bad : https://fred.stlouisfed.org/series/CIVPART
I was thinking about senior citizen care and nursing homes, where technology can help the nursing aide. This means more senior citizens can be watching and monitored by the nursing aide.
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.