Im thankful my wife and I had help building our own home. The housing market in the U.S. is diminishing greatly: Only 48 percent of people ages 25-35 own their homes. Approximately 57 percent of baby boomers owned their own homes in contrast when they were that age. Why? Many reasons play a role in the sharp decline, but ultimately wages and employment are still very low. Unemployment for the 25-35-year-old range is lower than it was in the 80s and wages are dropping fast; even college grads are seeing an 8-percent decline in wages (compared to a 19-percent raise for grads of the same age from 1995-2000). If it sucks this much for our generation, imagine what itll be like for our kids.
Posted on: Mon, 31 Mar 2014 19:12:00 +0000
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