The 20 small cities struggling the most in the U.S. based on economics, education, quality of life, and affordability: All of the cities are in California.
It is hard to quantify what makes a city great or bad. Simply having a higher income is not enough to separate an area from another city if the cost of living is outrageous. There have been attempts to use cost of living adjustments but the attempt to rank cities has been paltry. Most of […]
Renters are paying too much and their burden is only going to increase: How financial policies gouge working class Americans.
A recent report by Harvard University’s Joint Center for Housing Studies showed an absolutely dismal housing situation for Americans. Housing is unaffordable for most working class Americans. Sure you can take on a gigantic mortgage with a low interest rate and pretend all is fine but you are simply chaining yourself to the bank for […]
The Average Net Worth by Age: The massive financial chicanery brought on by housing equity figures and the new real estate bubble.
The best indicator of wealth is your net worth. Take you assets and subtract out your liabilities. It should come as no surprise to most Americans that half of this country is living paycheck to paycheck. One third of Americans have zero dollars for their net worth or in many cases for young Americans, have […]
People are still surprised why new home sales remain anemic and new home building is simply not materializing. The latest Census data shows that the typical new home sold for $281,000. At the same time we also realize that your typical U.S. household is making about $50,000 per year. The reason home sales remain weak […]
How Americans go poor by spending money on housing and related expenses: Americans spend 33 percent of their income on housing-related items.
People tend to think that buying a home means only paying principal and interest. Most conveniently forget the other myriad of expenses associated with being a homeowner. As Americans find less disposable income in their bank account each month, less Americans are becoming homeowners. The middle class is moving away from the American dream because […]
Generation R – Millennials are largely living at home or opting to rent. What happens when homeownership is less accessible to younger Americans?
There is a big challenge when someone comes of age during an economic crisis. Millennials, the children of baby boomers born between 1982 and 2000 have largely grown into an economy that was fully in shambles. This is a generation that grew up with parents talking about the middle class as if it were a […]
When the housing market is owned by Fed banks: Federal Reserve went from holding zero in mortgage-backed securities to over $1.5 trillion.
There are significant consequences with the Fed continuing on course with Quantitative Easing. On paper, it may seem that all is fine on the home front. However, many regular Americans are finding it harder to purchase a home in spite of a low interest rate environment. The Fed has created perverse incentives where big banks […]