The End of Ownership: Why Aren't Young People Buying More Houses? - Derek Thompson - Business - The Atlantic
Fewer young people are finding jobs. Fewer young people are getting married. Fewer young people are buying homes.
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A trillion dollars in student loan debt is one reason. Add in the unfolding disaster that is the housing market. How can anybody expect them to go out and get married, buy a house, and have kids? Rick Santorum would no doubt blame it on single mothers.
1 comment:
Mr. Romney,
It has long been a staple of conservative thought that marriage and home ownership results in stable communities. People who own property and have families have a stake in the well-being of the over-all community.
But capitalism requires a mobile workforce, with workers who must be willing to re-locate to wherever the jobs are. The incentive for adults is to remain single, childless, and renters. Or, if married, dependent on only one income.
Even before the current housing and unemployment crisis, it was not a trivial matter for a two-income family, with or without children, to re-locate when one of their employers required them to move to another city or another state.
With the additional factor of being tied to a house they are not able to sell, it is nearly impossible for a family to migrate to favorable business climates, as required by capitalism.
How do you resolve this paradox that exists in right-wing philosophy?
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