Let's face it there are three classes in America now: the wealthy, an ever shrinking middle class who know they can lose it all at any moment, and a great mass of working poor who won't ever get to the ladder, much less hook their worn out boots on that first rung.
Absolutely correct. It's not just a U.S. phenomenon, either. In the 1990s, an apartment in Stockholm was highly accessible to an ordinary salary. Today, the gap between prices, and wages has created the exact problem for Stockholmers. It really feels like the middle-class dream has shifted from working hard to buy a home to relying on family wealth just to get a start.
It is so sad to see what this generation is facing in the housing market. In the state that I live in , NJ, the cost of even a very small home with a little bit of property is astronomical .. Since I am older ( a boomer) I purchased my small home with a bit of property in 1982 for $100,000. This same home if I ever chose to sell it would sell for at least $400,000. And the thing is no one wants a small 2 bedroom 1 bathroom cape cod style home anymore. They want luxury, a large bathroom or two, etc. My home has been paid off for 20 years. No mortgage, and we have no debts. Living on a retiree budget with substantial savings,and pension ,we live frugally. We married younger, had our kids younger, and it did take two salaries to maintain an upper middle class lifestyle. We saved. These days ,saving for a manageable downpayment seems almost impossible, along with mortgage payments and the cost of raising kids, saving for their college education,and the outrageous cost of living increases does seem to make home ownership like an impossible dream.
It's a huge issue. I live in Vancouver and real estate prices have been out of control for so long. The average detached home is typically $1.5 million+,totally crazy
I am not sure is by design. I think it is happening because you need to take very difficult decisions and you require all parties to support very long term targets
Oh, I think the current crisis is by design by billionaires and government colluding and profiting off of people’s suffering. Never before had the gap been this wide. Nor should we have privatized prison system at all and right now their profits are off the charts! And on and on….
Let's face it there are three classes in America now: the wealthy, an ever shrinking middle class who know they can lose it all at any moment, and a great mass of working poor who won't ever get to the ladder, much less hook their worn out boots on that first rung.
Oof the ending few sentences hit hard - well said
Thank you
Absolutely! You nailed that. We are on the same page.
This is how it is everywhere. It's really heartbreaking because we have to keep living and working no matter what.
Absolutely correct. It's not just a U.S. phenomenon, either. In the 1990s, an apartment in Stockholm was highly accessible to an ordinary salary. Today, the gap between prices, and wages has created the exact problem for Stockholmers. It really feels like the middle-class dream has shifted from working hard to buy a home to relying on family wealth just to get a start.
Yes, it is happening in many countries
It is so sad to see what this generation is facing in the housing market. In the state that I live in , NJ, the cost of even a very small home with a little bit of property is astronomical .. Since I am older ( a boomer) I purchased my small home with a bit of property in 1982 for $100,000. This same home if I ever chose to sell it would sell for at least $400,000. And the thing is no one wants a small 2 bedroom 1 bathroom cape cod style home anymore. They want luxury, a large bathroom or two, etc. My home has been paid off for 20 years. No mortgage, and we have no debts. Living on a retiree budget with substantial savings,and pension ,we live frugally. We married younger, had our kids younger, and it did take two salaries to maintain an upper middle class lifestyle. We saved. These days ,saving for a manageable downpayment seems almost impossible, along with mortgage payments and the cost of raising kids, saving for their college education,and the outrageous cost of living increases does seem to make home ownership like an impossible dream.
You just described the changes in the last years that are impacting the middle class dream for many
It's a huge issue. I live in Vancouver and real estate prices have been out of control for so long. The average detached home is typically $1.5 million+,totally crazy
Very though indeed
And, the systemic profiting off of people’s suffering is broken when enough people become aware that this has been created by design.
I am not sure is by design. I think it is happening because you need to take very difficult decisions and you require all parties to support very long term targets
Oh, I think the current crisis is by design by billionaires and government colluding and profiting off of people’s suffering. Never before had the gap been this wide. Nor should we have privatized prison system at all and right now their profits are off the charts! And on and on….
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