Thursday, June 19, 2014

Sluggish Housing Market A Product Of Millions Of 'Missing Households' : NPR

Sluggish Housing Market A Product Of Millions Of 'Missing Households' : NPR:

"A year ago, the housing market looked like it was finally recovering. Sales and prices were picking up. But then home sales fizzled. Currently, they are down about 7 percent from last spring. A big part of why housing remains so stunted is that there are more than 2 million "missing households" in the U.S. That's how economists describe the fact that fewer people are striking out on their own to find places to live. Instead of renting an apartment or buying a home, a large number of Americans in their 20s and early 30s are living with family or tripling up with roommates. That's because younger Americans are having an especially tough time since the recession."


Young adults have been abandoned by our policy makers and left to the tender mercies of the worst economy since the 1930s.  The difference is that in the 1930s the federal government did everything possible to help working people, but this time around the feds are only concerned about health of big banks and insurance companies, oil companies, big box retailers and other practitioners of grifter capitalism.  It is a decision that will reverberate through our economy for the next fifty years.

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