U.S. Housing Prices Have Risen So High, People Pushed Below the Poverty Line!
When food, electricity, and housing becomes the majority of a person's expenses, that doesn’t leave much for spending into the economy. People need disposable income to shop, go to restaurants, and invest. Instead, they get what they need and simply can’t afford anymore. As a result, the economy slows down. This is why the government needs to create stimulus packages and the central banks print money. They need to fill in the gap, or a recession will occur.
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Sources Used in This Video:
https://goo.gl/UpprQe
Major apartment developer: 'There is an acute crisis headed our way'
https://www.cnbc.com/2018/02/16/major-apartment-developer-there-is-an-acute-crisis-headed-our-way.html?__source=sharebar|email&par=sharebar
05_harvard_jchs_americas_rental_housing_2017.pdf
http://www.jchs.harvard.edu/sites/jchs.harvard.edu/files/05_harvard_jchs_americas_rental_housing_2017.pdf
Median Asking Rent.jpg (878×558)
Homeownership Rate Q3.jpg (938×568)
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A recession is needed to cleanse the system. An economic detox. But it's not allowed to occur. So it's artificially propped up and we simply wait for the earth to crumble underneath us.
Are you preparing?
Be careful what you wish for. There is a recession in Venezuela. People are dying.
That's not the recession I'm talking about. That's just criminal injustice. I'm talking about bank failures, major corporations going under, government slashing expenditures.
We definitely do need to cut government spending. I doubt that will ever happen though. Dems love welfare socialism and Republicans love military socialism. People might lose all or most of their money at the banks if they collapse and millions of Americans could lose their jobs when corporations fail. On the bright side it's nice we have crypto currencies to escape from failing government currencies.
what is happening in venezuela is horrible and prove that rats with no souls are doing whatever to stay in power, with the reset of this debt based system, I hope countries like Venezuela could start again to flourish, luckily cryptos will give the strength, that we lost, back to us.
Venezuela rats seem similar to our socialist rats. I think we REALLY need to cut government spending. In other words we are screwed. Hopefully people don't die here in the USA like they are dying in Venezuela.
Housing affordability is a big deal in dozens of the top metro areas. The tent cities in major cities are shocking. Many of the occupants do have jobs; but they don't have jobs that pay enough to afford rent.
Absolutely. It's a mess in many areas. I've watch many videos of tent cities and how unbelievably vast they are. It's sad.
Useful Rent statistic.It is a different post from you
Thank you for watching!
That sucks for the renters. I need to get me one of them. lol
It's crazy what's going on these days. Something needs to change.
I always enjoy your economic snapshots, in particular the way you present and analyze the data.
The problem that you describe is not going to be addressed anytime soon, simply because it is not in the interest of the oligarchy.
If you are after power and wealth, you will bring the populace to, and keep them on their knees. Make them worry incessantly about the precariousness of their enployment, their housing, their finances, their future and that of their children, dumb down education in schools and make sure the parents are so exhausted at the end of the day that they can't attend to their offspring's intellectual or emotional needs, bring on the NFL and Honey Boo Boo, restrict access to healthcare and feed them carcinogenic foods, and there you have it: the perfect proles with no bandwidth left to question the system that exploits them.
True. As long as people have their Kardashians, they'll be just fine. They'll continue to live in worse and worse conditions.