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Half of Americans can’t afford their house, while 84% young people delay major life decisions due

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posted on Jun, 4 2014 @ 09:29 PM
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originally posted by: xuenchen
And an alarming report says that only the "1%" are buying homes so far this year !!!

2014 Luxury Report: Sales of Priciest 1% of Homes Climb While Rest of Home Sales Still Down



Well . . . I'm not so sure I buy that graph.

I own a home in Phoenix, AZ . . . nowhere near one of the "1%" luxury homes . . . According to that graph, I (and anyone that lives around me) should have seen a drop since the beginning of the year. Not only have I not seen a drop, as my home has doubled in value since the end of 2011, but the comps in the area have gone up or remained stagnant every month this year.

I'm sure there are some communities that have gone down, but is that the market or simply the value of a community that people don't want to live in?




posted on Jun, 4 2014 @ 09:32 PM
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a reply to: snarky412

This is a part of the weeding out process. the people who can't afford to be on the top will eventually be camped and gotten rid of.



posted on Jun, 4 2014 @ 09:32 PM
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a reply to: solomons path

Wow, trying to use definitions to quell the fact that nearly every American wishes to own their own home someday. Just because your definition doesn't define the American dream as wanting to own a home, DOES NOT mean that it isn't a main goal of most Americans (American dream).

Now, you make a point about saving cash, and being less frivolous with spending to buy a home. I urge you to start over in a new career now (as a young person would be), and try to find a job where you make enough to save up. Unless you are lucky, or are the best in your field naturally, it's not going to happen. It's simply too hard to find a decent wage anymore.



posted on Jun, 4 2014 @ 09:40 PM
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It doesn't surprise me that Mexico is third on the list. They can live 40 to a house, be paid under the table, receive welfare/ housing assistance and pool their money together and don't worry about cps getting on them even though they are living in what CPS deems "unsanitary /crowded" conditions because they're illegal immigrants so they apparently don't gotta follow child welfare or housing laws. You know if we did this, we'd have big brother taking our children out of our homes.



posted on Jun, 4 2014 @ 09:46 PM
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Why do prices of good rise over time? Shouldnt the only goal of economics and a society be to increase quality of goods while decreasing prices over time? Do the materials for houses keep getting more expensive, is it harder to build houses now, why is rent continually being raised?



posted on Jun, 4 2014 @ 09:52 PM
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a reply to: ImaFungi

see Inflation plus greed.



posted on Jun, 4 2014 @ 09:54 PM
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a reply to: ImaFungi
Simple, greed and it is not the builder's greed it's the corporation selling materials. My bf is a contractor and it is very accurate what the prior poster has said about his contractor friend, my bf is losing money building a house right now. Unless it is a corporate builder, they are losing money building houses right now.



posted on Jun, 4 2014 @ 10:03 PM
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originally posted by: andr3w68
a reply to: solomons path

Wow, trying to use definitions to quell the fact that nearly every American wishes to own their own home someday. Just because your definition doesn't define the American dream as wanting to own a home, DOES NOT mean that it isn't a main goal of most Americans (American dream).

Now, you make a point about saving cash, and being less frivolous with spending to buy a home. I urge you to start over in a new career now (as a young person would be), and try to find a job where you make enough to save up. Unless you are lucky, or are the best in your field naturally, it's not going to happen. It's simply too hard to find a decent wage anymore.


First, that's not my definition . . . I simply googled "American Dream" to see if I could find anything about owning property or a home. I used the opening portion of the Wiki entry. The only references I could find regarding "owning a home" came from politicians and individual complaining about the housing market or regulations.

Don't get me wrong . . . I feel you. I sympathize with your plight. However, I don't give any advice I don't follow. The home I bought in 2011 was my first. I bought this home at the age 37. I could have bought earlier, but I would have probably found myself upside down in the mortgage during the crash. In fact, I'm sure I would have because to buy one sooner would have meant that I take one of those shady 0% down deals so popular in the early 2000's. I waited (and was lucky due to so many homes becoming available during the bubble burst) until I could buy most of the home with cash. Wasn't easy and it meant no vacations, eating out, etc. etc.

I'm not putting you in this category, as I don't know you or your situation. However, too many "young people" today think they deserve to "own a home" and "drive a nice car" and etc. etc. There is an overabundance of entitlement issues with the younger generation of Americans . . . Although, it's not entirely their fault as they are acting in the way they've been conditioned. Nobody deserves anything in life, but equal opportunity.

As for the job thing, that sucks man. I know several people in your situation and it's certainly not easy. Heck, my parents are at retirement age and they work menial jobs due to being laid off from their long time jobs a couple years back. If you think it is hard to find work in your 20's . . . try getting hired when you are in your 60's! . . . I recently went through a career change that didn't work and basically haven't worked since (other than working for a couple non-profits that pay peanuts). Luckily, I've always been a saver and have investments to dip into or I'd probably be homeless. I also filed bankruptcy in my 20's after a divorce. But, that doesn't change my views on the subject.

Again, I don't want you to take my opinions as an indication of an indictment of you (or your situation). I know how much stress being out of work and having to check your bank balance multiple times a day causes. I do hope you find your "lottery ticket" soon . . . I certainly don't think anyone should have to struggle.
edit on 6/4/14 by solomons path because: (no reason given)



posted on Jun, 4 2014 @ 10:09 PM
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a reply to: Hoosierdaddy71

I am sorry but if your wife is a bank manager she should have told you how strict lending is these days. NOBODY is buying a home they can't afford anymore. Please link me proof of your claim.



posted on Jun, 4 2014 @ 10:09 PM
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Well about 10 yrs ago I managed to get a 5 bedroom house built in the 1880's on what we found out 6 yrs into living here on contaminated land. Lot size is about 100x 100. All for 55k. Now since the discovery of the contamination my assessment has been dropped to 30k and even if I was willing to look karma in the eye and say piss off and sell it, I would take a huge hit. Meh such is life I suppose.... But I am a homeowner, it's just killing us.



posted on Jun, 4 2014 @ 10:10 PM
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a reply to: ImaFungi

Inflation increases the wealth of the wealthy...simple as that.



posted on Jun, 4 2014 @ 10:55 PM
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originally posted by: ImaFungi
Why do prices of good rise over time? Shouldnt the only goal of economics and a society be to increase quality of goods while decreasing prices over time? Do the materials for houses keep getting more expensive, is it harder to build houses now, why is rent continually being raised?


The cost of materials is more or less constant (timber, drywall, concrete, cables, plastic pipes, tarmac). It's more a function of demand for land.

The larger cities are more attractive because there is more chance of finding employment and they grow faster. A city with 10 million people will have 40x as many opportunities as a city with 250K. Even then, that's only if the economy is booming and growth is taking place in those smaller places. For many specialized professions, a suitable vacancy may only come round once or twice a year, and then there's a one in twenty chance of getting that job.

Because of this difference in size, there is more chance of you finding work in a large city than in a smaller one. So that pushes up the demand to move to those larger cities. The attractiveness can be based on probability of getting a job, difference in salaries, commute time, education quality.

Then when more people are trying to live in the same space, so there is competition for the same land. There's a trade-off between home size, plot size and commute distance. At one end, you have a penthouse condominium downtown, at the other end you have a ranch home in the countryside with acres of land. In-between you have bungalows, duplex and triplex flats, rented apartments a few miles or dozen miles away from work. When the prices are maxed out, people are said in be in a "golden jail". They want to move up to something bigger, but they can't afford the new property tax, or don't want a longer commute, so they are trapped. That causes a backlog on everyone else who wants to move up. So rents move up accordingly. And those that lose out are desperate to live anywhere, micro-homes, house-shares.



posted on Jun, 5 2014 @ 01:47 AM
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Many Americans can barely afford to pay their rent.

This picture below shows how many hours a person must work at minimum wage to earn enough money to pay rent in their state.



edit on 5-6-2014 by MagicWand67 because: (no reason given)



posted on Jun, 5 2014 @ 02:16 AM
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Consider yourselves lucky in the USA that you do not live in the UK.

Officially house prices have risen 11% in a year with the average UK house now being £186k that's roughly 7x the average national wage.

London is completely insane with the average price now being £486k and rising at a rate of 20% per month! Completely out of the reach of 99% of the population without huge debt servitude.

The government here concludes we are not in a housing bubble yet but there is a shortage of houses.

This same government that believes in free market economics yet continues to rig the supposedly free housing market via schemes as:
Low interest rates
Bank bail outs
Support for mortgage interest
Funding for lending
Help to buy 1
Help to buy 2
Shared ownership
Lack of bank regulation
Encouraging BOMAD loans
And more.....

Clearly there is a move by the very few rich elite to exclude the main populous from house or land ownership.

The young are excluded simply because the prices are too high and they cannot afford.

The wealthier owners are being suckerd in to either help their offspring buy at these inflated prices or buying to fund their pensions.

When the time is right, the plug will be pulled and a monster crash engineered, this will leave the banks and wealthy few holding all the assets. The banks will likely not foreclose or kick the incumbents out merely make them rent back what is now the banks or institutions property.

Then we will all properly be just slaves......

MR



posted on Jun, 5 2014 @ 11:40 AM
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a reply to: Hoosierdaddy71

Poor life decisions? I guess it depends on what side of the fence people gets born on. I would've loved to've been born with opportunities, inheritance, someone pushing me to go to college, trust fund kid, etc.. but fact is, many people aren't set up like that. There are some who climb there way up, but not many. Many get stuck/trapped with having to survive by working some # job that doesn't pay a living wage. I was taught to work hard, get into the coal business. I can't give my kids the same advice. I can't tell them to "work hard". I tell them the truth about how the world works and who controls most of it and will teach them how to infiltrate it and destroy it.

Many people are living in their parents basements or attics or whatever. Used to be, you would never see that. Nobody will work for nothing and become a slave to this crap that has been set up for the sheep. Not many is willing to do it and I don't blame them. My wife and I take care of my dads bills and what they do to him, and us, on the mortgage should be considered a crime.....but it isn't. Most of what we pay is interest. It's disgusting how things have been set up. Hopefully, more and more kids will see the scheme that's been set up and just sit by and watch it collapse back to hell from where it came. We can't live like this. I call for arrest warrants and justice.


edit on 5-6-2014 by Fylgje because: (no reason given)



posted on Jun, 5 2014 @ 11:50 AM
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originally posted by: Euphem
a reply to: ImaFungi

Inflation increases the wealth of the wealthy...simple as that.


So why don the greater people of the nation band together and demand that the government stops creating inflation?



posted on Jun, 5 2014 @ 11:59 AM
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a reply to: Marlborough Red

Yes, allof this sounds like tactics of players that want to win the game monopoly. They have a monopoly on the game of life.



posted on Jun, 5 2014 @ 01:23 PM
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Well, at least I'm not alone. I'm nearly 29 years old, with a mortgage-sized load of college debt on my plate. I've been renting (read: pissing away equity) for nearly 11 years since I've been out on my own. I don't have any credit cards, but my credit is existent and in a decent state (mid 600's-ish). My girlfriend and I's dream is simple: buy a small house, with a little bit of land, and live simply. As the years have been going by though, I can almost feel this slipping away into impossibility. I have a decent job, I pay my bills, I pay my taxes. I've never been on unemployment, and never used public assistance. Yet even still, I really don't see how I'm supposed to be able to save money at all. I'm struggling with saving enough just to buy an engagement ring at this point, let alone a down payment on a house. What more can one do? It's kind of depressing..



posted on Jun, 5 2014 @ 04:42 PM
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a reply to: parad0x122

Yeah it is rough


I am 27 and was lucky enough to buy my first newly built home 2 years ago. While owning my own home is great, and a dream come true, it is also an endless money pit. Along with needing to buy furniture, appliances, dinnerware, beds, rugs, shades, tv's, lawn care products, fence for my dogs, garage door opener, AC install, etc..my mortgage payments just went up $400 a month. My house increased in value due to being in a new development and it is now filling up, as well as the market rebounding. This isn't a bad thing in the long run, but my property taxes went up like 1200% this year and I was not expecting this.

So there are good and bad things about owning a home vs renting. While I would always choose owning a home over renting, there can be a lot of unexpected expenses owning a home which can be devastating to any savings you might have.



posted on Jun, 5 2014 @ 06:10 PM
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originally posted by: ImaFungi
Why do prices of good rise over time? Shouldnt the only goal of economics and a society be to increase quality of goods while decreasing prices over time? Do the materials for houses keep getting more expensive, is it harder to build houses now, why is rent continually being raised?


1 - Prices rise due to enflation .
2 - It should but isn't .
3 - Yes , No.
4 - Because we are tax slaves .




Tax his land,
Tax his bed,
Tax the table
At which he's fed.

Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.

Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.

Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.

Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.

Tax his cigars,
Tax his beers,
If he cries, then
Tax his tears.

Tax his car,
Tax his gas,
Find other ways
To tax his ass

Tax all he has
Then let him know
That you won't be done
Till he has no dough.

When he screams and hollers,
Then tax him some more,
Tax him till
He's good and sore.

Then tax his coffin ,
Tax his grave,
Tax the sod in
Which he's laid.

Put these words
upon his tomb,
" Taxes drove me
to my doom..."

When he's gone,
Do not relax,
Its time to apply
The inheritance tax.




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