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But despite the strong labor market, wage growth has lagged economists’ expectations. In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers.
The numbers: The National Association of Home Builders’ monthly confidence index plunged eight points to 60 in November.
But such a sharp drop may presage something more sinister than a slower pace of building. Home builders were one of the first groups to feel the top of the market cycle just before the Great Recession. In June 2005, NAHB’s index hit 72, its cycle high. It started to tumble the next month, and by mid-2006 stood in contraction territory.
America's attitude towards home-ownership is changing. Only 48 percent of millennials (age 21-36) believe that buying a home is a good investment, according to the latest ValueInsured Modern Homebuyer Survey. That's a record low, according to the report, and a sharp contrast to the previous high of 77 percent just two years ago.
originally posted by: lakenheath24
I see you did not mention the student debt and the 80k of debt for a women's studies degree which is worth what on the market? Bad BAD guidance counseling and propaganda that you need a degree.
A house that's twice what they really need without the %20 down payment required in 1972.