An article turned up on CNBC today that seemed to catch many economists and pundits by surprise, although it has been painfully obvious to anyone not slanted with Obamavision for over half a decade.
Please see the following pull quotes from the piece, which notes a what can only be described as increasing economic issues that are not only delaying millennials from purchasing a home, but from fully achieving milestone of life.
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The typical first-timer now rents for six years before buying a home, up from 2.6 years in the early 1970s, according to a new analysis by the real estate data firm Zillow. The median first-time buyer is age 33—in the upper range of the millennial generation, which roughly spans ages 18 to 34. A generation ago, the median first-timer was about three years younger.
The delay reflects a trend that cuts to the heart of the financial challenges facing millennials: Renters are struggling to save for down payments. Increasingly, too, they're facing delays in some key landmarks of adulthood, from marriage and children to a stable career, according to industry and government reports".
The greater majority of the issues plaguing the millennials, and the entire economy, are due interactions of the government. Among the negative governmental influences have been the flooding of the market with money, which devalues assets and is inflationary, increasing taxation and regulation, attacks on small businesses and increasing infiltration in markets creating inefficiencies.
Due to these improper, and in many cases illegal decisions, the economy has been in an orchestrated decline. Our opinion for the reasons the administration would engage in such activity centers around the administrations effort with regard to the transformation of wealth, both an a micro domestic and macro global level.
At any rate, there have been scores of negative byproducts from these efforts, and for those seeking home ownership and unable to make that jump and boxed in the rental market, it should not come as a shock that rental rates are skyrocketing, hitting "
crazy levels". As such, escape from this viscous circle becomes increasingly more challenging, and folks are placed in a stranglehold.
As, professionally, we operate in this space, we so appreciate those that have chosen one of our properties to make their home over the years, but we note with sadness the increasing degree of difficulty faced by those who seek to climb the latter and purchase a home.
The economy is a wreck, and expenses and inflation are outpacing rises in income for those who do have meaningful full time employment, which decreases monthly with 94 million Americans underemployed or unemployed.
We know who is responsible for placing hard working Americans in this status, although many do not given the propaganda put forth by a complicit media and outright lies being told by Obama administration officials (unemployment rate is top example).
Elections have consequences, and we are paying a heavy price for 2012.
