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'generation Debt' Deep In The Red

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A Boomer in his fifties, Nissen is relieved that he bought his South Florida home in 1999 and has since seen the value triple, but feels bad for his two sons, ages 25 and 27, who are priced out of the overheated market. “Some still believe the American dream is owning a home, and they’ll use all their savings on it. Then there are others who believe it’s forever out of reach and just giving up on it. That’s why you have 40 percent of young people moving back in with their parents after college.”

A college degree is mandatory for most entry-level professional jobs, but most of today’s job growth is in low-paying, low-skill industries like retail and food preparation. That translates into a very bad time for twentysomethings to be entering the labor force, said Nissen.

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What do you expect from a consumption driven society?

Same over here, so we're deep in the shit as well

Not so sure its a consumption problem as much as a production problem. The US import nearly all consummables from China and Al Greenspan's policies have fuelled the fires of consummerism and HPI to "pay" for it all. Of course, it is not paid for as debt is a liability rather than an assett. The bubbles that have developed are the result and HPC will be the price.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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