Obama economy devastates young and housing markets, Under 35 home ownership plummets from 43.6 percent to 36.2, Unemployment rate 9.1 to 15.5 percent for 18 to 29 year olds, Student loan debt

Obama economy devastates young and housing markets, Under 35 home ownership plummets from 43.6 percent to 36.2, Unemployment rate 9.1 to 15.5 percent for 18 to 29 year olds, Student loan debt

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

 

 

 

Citizen Wells recently presented the impact on blacks of the Obama economy.

Another demographic that supported Obama, young people, has also been devastated by the Obama economy and the subsequent impact on the housing market has affected everyone.

From Market Watch May 13, 2014.

“There was an 8% drop in existing home sales in Greensboro-High Point, N.C., after a 2% rise in the fourth quarter, RealtyTrac found. “There’s still a lot of uncertainty about the economy,” says Tommy Camp, president and CEO of Berkshire Hathaway HomeServices Yost & Little Realty. “Some buyers say, ‘We’ve got a job, but we don’t know how secure that is.’” A slowdown in household formation has also had a negative impact on the housing market, he says; 18- to 34-year-olds account for more than half of missing households — that is, Americans who would be owning or renting a home now if prerecession economic trends had continued.”

Read more:

http://www.marketwatch.com/story/7-places-where-property-prices-are-falling-2014-05-13?dist=beforebell

From Market Watch May 12, 2014.

“For now, the absence of young adults from the housing market continues to put a dent in the homeownership rate, which dropped to 64.8% in the first quarter, compared with 65.2% in the fourth quarter of 2013, according to U.S. Census statistics. The rate was as high as 69.2% in the fourth quarter of 2004. For those younger than 35, the rate has fallen noticeably faster. It slipped to 36.2% in the first quarter, from 36.8% in the fourth. The homeownership rate for this group was as high as 43.6% in the second quarter of 2004.

“The [25 to 35] age cohort…probably has had the hardest time recovering from the Great Recession,” said Rick Sharga, executive vice president of Auction.com, an online real estate marketplace. “For the time being, we’re likely to see a higher percentage of households formed being rental households,” and overall homeownership rates are likely to continue to drop somewhat—perhaps even down to 62%—before bottoming out and climbing back up, he added.

While some industry watchers have suggested a shift in attitudes away from Homeownership, Sharga and others say it’s too soon to know whether people truly have a waning interest in owning homes. But one thing’s for sure: Young people have plenty of hurdles to becoming homeowners.”
“The unemployment rate for 18-to-29-year-olds was 9.1% in April, which rises to 15.5% if you include those who have given up looking for work, according to Generation Opportunity, a national, nonpartisan youth advocacy organization. The unemployment rate was 6.3% in April for all ages.

Forget that without a job it’s just about impossible to get a mortgage. (It’s also hard to rent: Twenty-nine percent of adults younger than 35 live with their parents, according to Gallup poll results released earlier this year.) A slow start to earnings also means a slow start to saving.

“The majority of younger renters report having insufficient assets to cover a 5% down payment plus closing costs on a typical starter home,” Shahdad wrote.”

“In 2012, 1.3 million students who graduated from four-year colleges (or 71%) had student loan debt, up from 1.1 million in 2008 and 900,000 in 2004, according to the Institute for College Access & Success, a nonprofit independent research and policy organization. Graduating seniors with student loans had average debt levels of $29,400 in 2012, up 25% from $23,450 in 2008.

And new mortgage regulations, set into motion by the Dodd-Frank Act, require that borrowers have no more than a 43% debt-to-income ratio (with debt encompassing monthly housing costs and debt payments, including those on student loans). That ceiling may also restrict first-time buyers, some say.”

Read more:

http://www.marketwatch.com/story/why-millennials-are-hurting-the-real-estate-recovery-2014-05-12

 

 

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29 responses to “Obama economy devastates young and housing markets, Under 35 home ownership plummets from 43.6 percent to 36.2, Unemployment rate 9.1 to 15.5 percent for 18 to 29 year olds, Student loan debt

  1. citizenwells

    Talk radio this AM:

    NC SBOE analyzing project cross check voter registrations.
    Drilling down to determine how many of 30k + matches with other states on name & date of birth that are potential fraud.

  2. oldsailor81

    Eventually home ownership will DIMINISH to practically NONE,and a large portion of the property that was once OWNED by private citizens will be in the hands of either city,county,state,or federal GOVERNMENTS, and the really nice ,and expensive properties will be GIVEN to FRIENDS OF FRIENDS,who are holding important positions in the various governments. Sadly it is NOT the VARIOUS GOVERNMENTS (this is only on the surface) in REALITY it is ALL being controlled by the occupant of the WACKY HOUSE,, and extends to much more important people at the international level. This lends credibility to the ongoing work of certain investigative people have already stated. The level of subversion extends to ALL LEVELS of government, and now there is mounting evidence that it is also at the international level. This I believe is what the CCP have also discovered. There are literally thousands of politicians,and legal entities, all deeply involved.If you look back in history about 40 years you will see exactly the same BULLSHI# that went on in Cuba,and later in Venezuela. Virtual CARBON COPIES,of each other,and corellating nearly exactly with what is happening in America as well. I can see it, and I do not even possess a formal education.

  3. oldsailor81

    I personally believe that the overall scheme of what is happening is so immense that to even pursue any fruitful investigation it will require THOUSANDS of specially trained people,working in unison to extract the probable millions of pages of documentation. Further I believe that the prosecution of all involved will eventually extend to international courts as well,which will require specially trained judges to adequatley adjudicate the cases brought before them. It might even require a body similar to the ICC. The alleged NEW WORLD ORDER was the brainchild of Adolph Hitler,whose perverted,and disease twisted mind, was responsible for a HELLISH DEATH for MILLIONS of people, particularly Jews.
    Today The New World order is AT OUR DOORSTEP. For those who think such a life would be really C-O-O-L,then I invite all of you to go to a country which is already under such control, and partake of your fantasiacal grandios life style. I know of a HELL of a lot of those people who would gladly trade places with you. But sadly some folks can’t learn any other way than by DOING, so to those I say GO TO YOUR FAVORITE LIFESTYLE,AND TAKE IT WITH YOU,THEN TAKE SPECIAL NOTICE OF HOW LONG YOU GET AWAY WITH IT IN YOUR……UTOPIA!

  4. oldsailor81

    sADLY IT IS OUR young people who are the most AFFECTED,as well as mentally INFECTED by the insidious BULLSHI# being so generously spewed about by OVEREDUCATED SNOTNOSED WORDSMITHS. Many of our young people are simply not able to sort out the half truths,and blatant lies, from REALITY,because they have not had a level of education which would have provided them with the ability to discern UP from DOWN. Now we are seeing the results of the DIMINISHED quality of education,particularly education at the GRADE SCHOOL LEVEL. Much of who a person is ,and WHAT that person becomes is a die that is cast during that person’s FORMATIVE years……or grade school. So today it is not really difficult to see that when a kindergartener is given CONDOMS to play with,there is something very seriously wrong with both what is being taught as well as the people holding teachers positions, and the upper echelon of those grade school systems. The preservation of our very way of life is literally SCREAMING to return to the education format of the 1930s,if we are to save our children,and ourselves. US History, Social studies,and Government should be a REQUIRED MAJOR at all levels of education,and these majors taught from textbooks which reflect FACT rather than FANTASY. Unfortunately many of our school age children of today are the children of LOW INFORMATION PARENTAGE,and in many instances the parents also believe that UP is DOWN,and will fight any form of curricular,or teaching changes for the better. It all begins with our children. If they emerge from grade school with a twisted education it is likely that they will retain TWISTED viewpoints for the rest of their lives. You only need to talk to some of these kids to see the marked, or subverted ideas that have been implanted into their minds, by subverted,and otherwise perverted school teachers. I hasten to add that I believe that teachers of today feel the brunt of the orders from the upper echelons as to what is to be taught ,and how it will be taught, and I think that if they had their ‘druthers they would gladly return to the teaching methods of yesteryear. It is IMPERATIVE that we take control of what is being taught to our children,if we expect to preserve our way of life in America. You CAN’T HAVE IT BOTH WAYS!

  5. oldsailor81

    As the life values of our society deteriorate,so does everything which goes along with it. Without proper intervention,it is likely that the people of America will lose all identity,as Americans,and eventually become a people who wander aimlessly about ,have little if any drive at all,and will be suckers for any, and every UTOPIAN scheme that is put before them. I further believe that the Caucasian race will diminish to only a handful, and America will be made of of mostly interacial people.Whether this is good or bad is yet to be determined. Thanks in part to the promiscuous behavior of our young people,the porn industry,and now the legalisation of gateway drugs there will be a new,and probably out of control birth of INTERACIAL children,who will upon birth be OUTCASTS of their own races. If skin color means nothing then it is likely that such folks will survive and fit in to all blocks of our society. But until black,white,red and yellow people can get past the color codes, virtual hell on earth could prevail. I am saying this because I think that what we are facing today is an integral part of the survival of America……..but it could easily NEVER AGAIN LOOK LIKE the America of yesteryear. The America that we are accustomed to is RAPIDLY WANING, and I believe will become a country very similar to France, Spain, England, and others. Good ,bad ,or indifferent it is our young people of today who it is already affecting, and it will continue to affect them in both the foreseeable,and the distant future. For some folks we will become a nation of BASTARD CHILDREN whose quality of life will be questionable at best. If our present Constitution is finally rendered useless by the MORONS AMONG US then there will be the same expectations for America as those of Europe. Effectively America will have been thrown backwards in time to something equivalent to medieval England. Only the super rich people will possess an updated life style. Most other folks will be at the level of SERFs. Hope everybody enjoys what they have asked for! Maybe it will arrive sooner than expected.

    Bye bye all, hope everybody has a great day.

  6. Can we match voter registrations with early voter or absentee voter registrations? Those areas seem ripe for abuse…

    Also can we tell if any of the duplicate registrations were listed as voting in the registered polling place?

    It would be really interesting if some of the “dead” voters voted in a place that had 100% for one candidate…

  7. bob strauss

    Remember, Islam indoctrinated many of these jailbirds while they were incarcerated, this release represents their graduation ceremony, now they will prey on the innocent.
    *******************

    GOP Reps: ICE Release of Immigrant Criminals ‘Incredibly Alarming’ …Obama Turned Loose Hundreds of Murderers, Kidnappers, and Rapists

    http://www.breitbart.com/Big-Government/2014/05/12/GOP-Reps-ICE-release-of-convicted-murders-rapists-kidnappers-alarming-planning-hearing

  8. bob strauss

    Republicans Overturn Obama Decision to Deny Honors and Benefits to the Victims of Fort Hood Terrorist Attack

    http://weaselzippers.us/185869-republicans-overturn-obama-decision-to-deny-honors-and-benefits-to-the-victims-of-fort-hood-terrorist-attack/

  9. bob strauss

    Maryland Judge Subpoenaed All Social Security Admin Docs Related to Obama’s Fake SSN

    http://americanoverlook.com/judge-orders-investigation-into-obamas-fake-social-security-number-8/17048

  10. bob strauss

    Gifts for his co-conspirators.
    *********************
    Obama IRS Spent Nearly $100 Million on Office Furniture

    http://freebeacon.com/issues/obamas-irs-spends-nearly-100-million-on-office-furniture/

  11. bob strauss

    Just Filed: Strunk v Paterson; British Intel Expert Michael Shrimpton Obama DNA Affidavit

    http://www.birtherreport.com/2014/05/just-filed-strunk-v-paterson-british.html

  12. Anyone wach BillionairesAgenda on the History channel Sat night ?
    Ck u tube

  13. Ck orlytaitzesq .com on contacting Fox

  14. bob strauss

    Please, call Judge Jeannine Pirro on FOX, as well as Hannity and attorneys Megyn Kelly and Kimberly Gilfoil, tell them to stop committing treason and covering up the usurpation of the presidency, demand they speak up and expose on FOX Obama’s use of a stolen CT SSN and bogus IDs

    http://www.orlytaitzesq.com/please-call-judge-jeannine-pirro-on-fox-as-well-as-hannity-and-attorneys-megyn-kelly-and-kinberly-gilfoil-tell-them-to-stop-committing-treason-and-covering-up-usurpation-of-presidency-demand-they/

  15. bob strauss

    Time for Congress to appoint committee and investigate corruption: were millions of taxpayer dollars given as aid to Ukraine in exchange for placing Biden’s lobbyist son on the board of the Ukrainian oil and gas company?

    http://www.themoscowtimes.com/business/article/son-of-us-vice-president-biden-joins-ukraine-gas-company/500062.html

  16. hockeyfan530

    off topic but we need to start fighting back. HGTV cancels a home remodel show because the brothers aren’t pro-homosexual. Tired of these guys taking their ball and going home because someone disagrees with them! It’s a show about home remodeling NOT sexuality or religion or morality.

    https://news.yahoo.com/video/hgtv-cancels-local-brothers-show-090538316.html

    Time to fight back against this kind of stuff…think chick filet

  17. oldsailor81

    hockeyfan530
    You are right on the money! Sadly such a viewpoint tells a really SICK,and twisted story about the sort of management of HGTV. For them to cancel a home remodeling show because the people on the show refuse to condone such a lifestyle,sort of smacks of the same sick and twisted management which was present on channel 38 when that show was also cancelled. The management ended up EATING their cancellation. Har Har. Frankly I along with a hell of a lot of Americans STRONGLY DISLIKE SEXUAL DEVIATES. Further they are NOT born as such,…..they are made the way they are by others like them. Frankly I would never again watch HGTV, and would advise you to tell them to GO STRAIGHT to HELL,and DO NOT PASS GO!

  18. oldsailor81

    hockeyfan530…..
    What you see happening is exactly the same sort of stuff presently going on under the roof of the WACKEY HOUSE. In fact a hell of a lot of the people hired by the alleged POTUS(himself a suspected deviate) are SEXUAL DEVIATES within both genders. In addition Mzzzzzzzzzzzzz. “Fine-stine” is a KNOWN female DEVIATE. That person also possesses a severely twisted mentality. Such people should be banned from public office.

  19. Whistleblower
  20. bob strauss

    You’ll never see an ad like this, in the PC atmosphere we live in now.

  21. bob strauss

    Judicial Watch Obtains New Documents Showing IRS Targeting Came Directly FromWashington D.C.

    http://townhall.com/tipsheet/KatiePavlich/2014/05/14/new-documents-show-irs-targeting-came-directly-from-washington-dc-n1838128

  22. bob strauss

    Militia plans march on DC to call for removal of political leadership…

    http://www.washingtontimes.com/news/2014/may/14/operation-american-spring-hitting-dc-to-oust-obama/

  23. bob strauss

    I thought it was racist to expect people to have an ID.
    ********************
    X DARPA Director, GOOGLE Exec Pushes Microchipping Human Beings…

    http://www.collective-evolution.com/2014/05/14/x-darpa-director-google-exec-pushes-microchipping-human-beings/

  24. bob strauss

    Anyone surprised?
    ************************

    New documents obtained and released through a Judicial Watch lawsuit show the targeting of tea party and conservative groups came directly out of Washington D.C., not a rogue IRS office in Cincinnati.

    http://townhall.com/tipsheet/katiepavlich/2014/05/14/new-documents-show-irs-targeting-came-directly-from-washington-dc-n1838128

  25. Pingback: Home ownership hits lowest level since 1965, Morgan Stanley analysts ownership rate lower than Census Bureau statistics, Nation of renters, Obama core supporters millenials hit hardest with unemployment student loans and housing options | Citizen WElls

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