Homeownership at a 51 year low
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That is kinda to be expected after the biggest housing crash in our history. It is also relevant that we had been artificially pumping up home ownership the decades leading up to the crash. Also, we are seeing growing numbers of renters, which means people are moving out of mom and dads into their own place, this drives down the ratio of homeowners to renters. That being said, this is still a weak economy. The labor participation rate hasn't been this low since the late 1970s. Inflation has been worryingly low given our current monetary policy, leaving us in a dangerous position if we hit another recession. Underemployment could come down another point and a half. There are also structural changes that aren't being addressed. Workers affected by trade and low energy prices need to find productive and fulfilling work, not part-time jobs at Wal-Mart or McDonalds. To be fair to Obama, he hasn't had a friendly congress in years. The fact that he has accomplished everything the republicans promised in 2012 does deserve some applause. 1
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Well for one he has had a hostile congress since the Democrats lost the House in 2010. Another reason is that presidents don't have a huge amount of influence over the global economy. He has had to spend his political capital addressing climate change and terrorism. Nobody really knows why western economies aren't responding to expansionary monetary policy. That is a central banking issue anyway. He has only just recently attempted to address retraining issues by proposing free community college. That won't be in full effect for years if we don't see a democratic congress. Another issue is that fixing the economy requires money, which if you have looked at the debt we don't have. He would need to raise taxes in order to pay for anything real. Good luck passing that in this congress. Hey Outlaw. I see you're back. The unemployment rate has little to do with the stat about home ownership. Many of those young people living at home are employed or in college. Many people choose to rent or lease with an option to buy. Housing STARTS have been up steadily over the past three years, proving that we are almost totally out of the crippling 2008 financial meltdown that Bush put us in, and left to Obama. Obama was largely responsible for avoiding a national economic catastrophe. His TARP loans saved many invaluable corporations and financial institutions. And most of that money has been paid back. Bush inherited a huge Budget Surplus. And then he screwed the pooch, Getting thousands of young Americans killed for a needless war. Just so he could say he got the guy who put a hit out on his Daddy. I see that although you have changed your name you still are absurdly biased against the Dems, and your posts still contain laughably groundless agitprop. SS |
