Obama Fed economy brings families together, In laws and nonrelatives added to family households picked up last year, Improving economy and job growth lies exposed, Young people have higher debt and can’t afford homes
“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.”…Market Watch May 12, 2014
“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
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
We are constantly hearing from the White House and Obama controlled media about an improving economy and jobs situation.
You can fool someone with smoke and mirrors for awhile but eventually the smoke dissipates and the mirrors begin to reflect reality.
Aside from the skyrocketing use of food stamps and other public assistance, record labor force dropouts, frightening levels of student debt and subsequent inability of young people to buy homes, we have another example of the impact of Obama and Fed policies.
From Market Watch September 27, 2014
“Doubled-up homes aren’t just for couch-surfing adult kids (and reluctant parents) anymore”
“With the economy growing in fits and starts, an increase in “doubled-up” homes isn’t just young adults moving into their parents’ basements, according to a recent economic research note.
The number of in-laws and nonrelatives added to family households picked up last year, housing economist Thomas Lawler wrote in a Friday note.
“There was a substantial increase in the ‘doubling-up’ (or more) of households not attributable to ‘young adults’ moving back to their parents’ home,” he wrote.
Crunching government data, Lawler found that in 2013, the population of family households (these are homes that contain families and may include other individuals) added 577,000 householders, spouses and children — down 49% from an average annual increase of 1.1 million between 2010 and 2012. Meanwhile, the number of in-laws and other relatives added to family homes hit 663,000 in 2013, double the recent average, and non-relatives rose more than 700% to 372,000.
Here are a few other trends worth watching:
About 164,000 non-family households with at least two people were formed last year, up from average annual growth of 65,000 between 2010 and 2012.”