“AND DON’T BE PULLING THAT FALLING DOWN THE STAIRS SH*T …”
|| By FITSNEWS || Another day, another sad indicator of the death of the American dream … a demise which has been fueled in no small part, ironically, by government efforts to impose that dream onto people who couldn’t afford it.
Anyway … according to the latest Gallup data, 41 percent of America’s non-homeowners have no plans in the foreseeable future to purchase a home. Two years ago, that number was 31 percent.
“What may have been a longer-term goal for many may now not be a goal at all,” Gallup’s pollsters note, “and this could have an effect on the longer-term housing market.”
Meanwhile U.S. Census data released this week showed America’s homeownership rate falling from 64 percent to 63.7 percent – its lowest level since 1986.
“At this rate, by the end of the 2015 and certainly by the end of (Barack) Obama’s second term, the US homeownership rate will drop to the lowest in modern US history,” our friends at Zero Hedge noted.
Not surprisingly, the downward spiral has resulted in a boom market for those with properties to rent – like The Blackstone Group.
According to the latest data, the median monthly asking price for rent is $799 – a new all-time high.
We’ve said it before, we’ll say it again … “the center cannot hold.” Those of us who are supposed to be driving the American economy cannot do so unless we have jobs … and we won’t get jobs if the consumer economy continues to be subdued by the subsidization of crony capitalism, welfare statism, unsustainable entitlements and global interventionism.
The collapse of the American housing market is the latest proof of that …
UPDATE: Oh, for those of you confused about our title (and subhead), hopefully this video will be instructive …
25 comments
Death of the American Dream???….It’s just in a Coma…you Dumb@$$…until we get this F*#king idiot out of office, you put in there…
Before Reagan came in and Kicked-@$$ and took names, it may have been worse than it is now…
We have a few GREAT Republican candidates that understand how GREAT America, and Americans are…at least most of us are…
We’ll get this thing turned around, and begin the healing of this sick nation…and it’s going to SUCK being FITS, or his minions…because a lot of the Bull-$#!t you’ve been peddling won’t be tolerated any longer..
A trailer for every trash pile, a suitcase of Bud Light in every fridge, and a dial up internet connection for everyone like GrandTango to spout off about anything and everything they know nothing about.
Make mine Coors Light, please.
I’ll start with Yeungling ..
Well if it must be beer – a Black and Tan please ;)
Ashamed of who, and what you are Much?
I agree.What is happening in Baltimore is helping those GREAT Americans come out of that ‘coma’. The phone calls and emails I have received today tell me that the Democrat Party has been defined- Americans are mad as hell and won’t take it anymore.
Yes, right. That’s what we need fur sure. More “progressive” quasi-socialist divisiveness and spew.
The plan is coming together, on the coat tails of riots and arson. Never let a crisis go to waste.
Eddy – that’s either GT or Flip – not me.
He knew that Rocky.Liberal socialists never refer to America as GREAT.
“I’m Grand Tango. There are GREAT Republican candidates. Water isn’t wet. Obama is a $%$%#. I know what the hell I’m talking about. Babies aren’t cute. LMAO”
You elected Obama TWICE, you F*#king idiot….LMAO….and you’re attacking ANYONE else…You have NO idea WHO, and WHAT you are…do you???….
Mr. Tango,
You have motivated me to start a “Flag Grand Tango Comments” movement.
I know that you are going to be a great help in my endeavor.
*please flag Grand Tango as “inappropriate”, because his existence is just that*
The worst that can happen to my movement is that it fails, just like your blog-but it’s worth a good ole college try
The Nazi’s,communists and radical perverted gay marriage proponents had/have the same view of free speech as you.
From reading your comments I am not surprised.
Wahhhhhhhhh!
Giant Turd really makes some valuable contributions to this discussion site, doesn’t he? Really well thought-out observations stated in a mature, respectful way. Let’s make him our ambassador to Syria.
Chortle chortle …
We already got one…the muslim occupying the white house
Exception! Out here in Taxifornia the housing market would appear to be booming.
The reality is that local taxsuckers, the property tax appraisers, are touting ever increasing “values” in order to jack up Prop 13 limited revenues.
Watch for it … watch for it … watch out for it in your neighborhood.
“…crony capitalism, welfare statism, unsustainable entitlements and global interventionism.”
Sounds great! Got any specific suggestions? Policy recommendations mean squat until you start getting down to who benefits and who pays. BTW, the majority of crap mortgages went to folks for second (and more) homes, not the “American dream” BS you are spouting. And, what prompted all this was TONS of corporate cash laying around with no good investment alternatives (at the time) so the suits said, “go make some money, boys”
I got one. How about a nice fat permanent tax cut.
For who–other than you of course?
A tax cut for The Poor! … It’s either that or more trickle down poverty.
The elimination of the capital gains tax would lower rents.
An automatic $100,000.00 deduction for every worker would mean a bigger pay check for ALL workers.
Removal of the death tax would immediately improve the lives of a significant number of no income and low income workers … and their friends.
Pick one! … Or better yet pick all of them. (That would be Jerry Brown’s 2008 Flat Income Tax proposal.)
There is a big difference between owning a home and the mortgage company owning it. Home “ownership” was highest right before the crash of the housing bubble. Bad loans to people who had no business buying houses.
I agree with you, but I think a new problem may be emerging for potential buyers of homes less than 300k. Several investment companies like Blackstone have scooped these properties up as rental investments.
“By year’s end, Blackstone’s Invitation Homes had hoovered up at least 1,585 single-family homes here, according to market researcher RealtyTrac. Nationwide, Blackstone says it has spent $8 billion amassing a portfolio of 43,000 single-family homes.”
http://www.seattletimes.com/business/wall-street-buyers-snap-up-thousands-of-local-homes-for-rentals/