More than half of US renters older than 40, study says

They noted that 6 million people were foreclosed on since 2008 and bubble burst. Doesn't sound like a lot of foreclosures but in the wrong area/market those numbers will devour available rentals. And in places like NY and Miami mentioned in article a high immigrant population can suck up rentals and account for the over 40 demographic.

Since the bubble too many sellers and landlords look at their property as an investment only, they don't care about hospitality or providing a 'home'.

I also found it curious they note on average 30% of renters income devoted to rent. The standard rule of thumb in certain areas is that monthly rent shouldn't be more than 1/4 or 25% of monthly income. I've seen ratios as high as 7-1, in other words the rent can't be more than 1/7 monthly income.
 
If the American dream was to become a millionaire, the Australian dream was to own your own home on a quarter acre block.

Now the elderly who have achieved that dream are being scolded for being selfish and we are being urged to move out of our homes to allow for new developments. This little wombat is not going to vacate the burrow until I'm good and ready to do so.
 

Warrigal said:
If the American dream was to become a millionaire, the Australian dream was to own your own home on a quarter acre block.

Now the elderly who have achieved that dream are being scolded for being selfish and we are being urged to move out of our homes to allow for new developments. This little wombat is not going to vacate the burrow until I'm good and ready to do so.
Click to expand...

I think most Americans have given up on the Millionaire thing.. and also only aspire to owning a home.. paying their bills.. having a descent car and being able to feed and educate their kids.... This dream is fast disappearing... compliments of income inequality and the massive shift of wealth to the top 1%... Thanks Ronald Reagan!!
 
QuickSilver said:
I think most Americans have given up on the Millionaire thing.. and also only aspire to owning a home.. paying their bills.. having a descent car and being able to feed and educate their kids.... This dream is fast disappearing... compliments of income inequality and the massive shift of wealth to the top 1%... Thanks Ronald Reagan!!
Click to expand...

I thought the global economy, outsourcing, technology, foreign competition for US jobs(legal or not) and some misplaced priorities by many among others things are why the "American Dream" is slipping away.
 
WhatInThe said:
I thought the global economy, outsourcing, technology, foreign competition for US jobs(legal or not) and some misplaced priorities by many among others things are why the "American Dream" is slipping away.
Click to expand...

There are basically TWO problems that people....all over the globe...will increasingly face as time passes. 1. Overpopulation....far too many people chasing fewer and fewer good jobs, and 2. Automation and Robotics. The once good paying manufacturing jobs are increasingly being replaced by robotics, and foreign labor that will work for pennies...and we are left with a "service" economy that isn't worth Squat. People are becoming increasingly "obsolete", and its starting to get peoples attention.

But, it will get even worse. Artificial Intelligence is making quantum leaps. How long will it be before the machines are smarter than the people....and begin to look upon people the same way we look at cockroaches????
 
If the American dream was to become a millionaire, the Australian dream was to own your own home
Click to expand...

:confused:

I don't recall the American dream ever involving becoming a millionaire; don't know where that came from. It's my understanding the American dream has always been to own a home in a decent neighborhood, have a good job, and be able to pay bills.
 
I thought the American Dream was a ranch, dog, white picket fence and 2.3 kids. But absolutely a house , pay one's own way and be able to buy a creature comfort or two.
 
QuickSilver said:
Maybe take a family vacation once in a while....
Click to expand...

I don't think I know much of anybody who can afford to do that nowdays. When I was a kiddo every summer we would take a vacation -- nothing spectacular, just go visit relatives or a trip to see the grand canyon or some such. We'd all pile in the car and off we'd go. I guess that would be considered pretty lame nowdays, but we enjoyed it.
 
Butterfly said:
I don't think I know much of anybody who can afford to do that nowdays. When I was a kiddo every summer we would take a vacation -- nothing spectacular, just go visit relatives or a trip to see the grand canyon or some such. We'd all pile in the car and off we'd go. I guess that would be considered pretty lame nowdays, but we enjoyed it.
Click to expand...

We don't live TV lives. Trips to the Ocean ,the Mountains ,or DC,all good:cool:
 
WhatInThe said:
I thought the American Dream was a ranch, dog, white picket fence and 2.3 kids. But absolutely a house , pay one's own way and be able to buy a creature comfort or two.
Click to expand...

Of course the 'ranch' was a style of house, not a large spread of cattle and lots of work to do. Just a ranch house with a large lawn for the family to have for freedom from neighbors being only 10 feet away, or less, in the new push for everyone to live in apartments or condo's.
 
People will be willing to live 10 feet from one another is the area is considered "trendy" enough.. or "up scale". Here Chicago is divided into Northside and Southside. The south is more open and suburban like. The North is very population dense.. but people want to live on the Northside because that's were all the "action" is... all the trendy restaurants and attractions.. so they are willing to live on top of one another and put up with the congestion for the privilege.
 
QuickSilver said:
People will be willing to live 10 feet from one another is the area is considered "trendy" enough.. or "up scale". Here Chicago is divided into Northside and Southside. The south is more open and suburban like. The North is very population dense.. but people want to live on the Northside because that's were all the "action" is... all the trendy restaurants and attractions.. so they are willing to live on top of one another and put up with the congestion for the privilege.
Click to expand...

Every big city seems to have those areas. Especially in place like San Francisco, Miami, NY etc. I know people who want every thing in walking distance or near public transportation. They tried the suburban life and drove for a while and they could not handle it. They eventually moved and sold their car. Problem is in hipster heavens bars & drugs also tend to be convenient as well. Some never grow up.
 

You must log in or register to reply here.

Back
Top