Americans are being bled dry. When will the bleeding end?
Subscribe to the Economic Ninja: / @economicninja
Man. It’s hard being an American today, I’ll tell ya. Most of the country is gonna work work work and never seem to get ahead. Buying a home is practically out of reach unless you want to live in the midwest or the ghetto. A college education is giving tons of our youth debt they’ll never pay off. And even the day to day stuff is getting more expensive. In case you didn’t hear, the dollar store is now the dollar fiddy store.
Why is it so expensive for the average American today and what does it mean for our future? What will it mean for our upcoming elections? Where is it too expensive to live these days and where can YOU, the middle class family live and still feel like you’re living in a first world country?
If you haven’t already bought a house, you’re screwed. No, that’s posturing, but it’s sorta true. In the last year alone, the average price of an American home has gone up 18% people. In one year. That’s the highest in almost 50 years, back when houses were modestly priced. In 1953, a family could get a house for $19,000. That’s $180,000 in today’s dollars, but that’s still reasonable. Even going back to 2008, houses were in the $200,000 range. Today, the average home price is $350,000 and there are no signs it’s going down.
There’s just less homes for sale and building can’t keep up with demand. Plus, the cost to build new homes has gone up a LOT because of the cost of building those homes. You know, wood, copper, drywall, WINDOWS, door knobs. They’re hard to get now. And the labor market is tough - getting enough home builders on a site to actually make these homes. It’s said there are 300-400,000 open positions for construction workers. It’s hard getting people to take the trades seriously these days. People just don’t want to do this labor like they used to. And if you pay construction workers higher wages, then the home prices will go up even more.
A lot of recent college grads say they’ll never be able to afford a down payment. Home prices alone are one key reason why so many people are fleeing states like California and New York among other terribly run liberal states.
Last year, 1 in 20 people bought a home without even looking at it. Cause if you don’t jump on a house, it’ll be gone, likely over asking price, sometimes all cash and occasionally from a foreign investment company. Like China.
#inflation #america
Email me: Robikmarketing1@gmail.com
I have a Patreon if you love it so much! Here's the link to donate to the channel: www.patreon.co...
You can buy my music here:
iTunes: / state-songs-an-album
More places to get my music:
-Google Play: play.google.co...
-Amazon Music: music.amazon.c...
This channel is about America!
The best video on this topic!
1 окт 2024
