Everyone and anyone can participate in the capital markets/capitalism,,,, nothing holding anyone back

Nothing has lifted more people out of poverty than capitalism/capital markets

Everyone has benefited from it

Full stop!!!


What OB is missing,,,,,,is GOVERNMENT DEBT

Government debt(bail outs, stimulus, etc) is at all time highs across much of the world

Eventually it will crash every thing down,,,,,

But.... but... but..... the stock market is at all time highs so bailouts must be good.........

There's gonna be a lot of people in a world of hurt when this house of cards comes tumbling down. Admittedly, probably myself as well, but at least I can see the risk and won't be blindsided when it comes.

I agree spjones but I would add taxation to something holding people back but that goes hand in hand with debt. People have no idea how much they pay in taxes as most of them are "hidden", sales tax, payroll tax, property tax affecting their rent, etc

Let me correct you...you have 30 year olds that buy $8 coffees on their way to work, get home and turn on their $150 a month cable TV, go out to eat 3 times a week, go to the movies or honkey tonk every weekend, drive $700+ a month brand new status symbol vehicles, pay someone else $80 to change there oil because they dont know how or are too lazy......the list goes on. Young folk cant afford housing because they are pee poor with their finances and cant decipher between wants and needs.... rant over

…. I got the sarcasm Ohio Boy

Boomer here. Born in 57. Grocery store in highschool. Full time Grocery 77/78. Moved to Alaska July 78. Wilderness trapper and summer work for pay 78-85. Aircraft mechanic 86 to retirement in 2022. Bought a duplex in early 2006 in Nome. 6% interest. 2008 crash didn't hit western Alaska like other places. Sold the duplex in 2012. Took the cash from the duplex and made a huge down payment on a house in Fairbanks in 2012. Employer bankrupt in 2020 but walked down the street and hired at a different aviation biz. Retired 2022. Doing OK. 2 IRAs. Wife retired with 3 or so IRAs. SSA monthly checks and some supplemental money. Still paying the monthly mortgage.
Life is pretty good. Choices/decisions matter!

Do you really believe the only thing holding young people back from home ownership is $8 coffees and cable TV? Do you think the prospects for the average up and coming 20/30 year Olds are equal or better than the boomers had it?

Honestly I believe they are better. Other than the housing thing right now...... but I think that will eventually improve some.... but not a lot. There is only so much land available......

If you can't afford a home, if you can't afford to raise children due to day care costs and other costs, if you are paying for auto loans as you need transportation for work, why not buy an expensive coffee, you can't afford much else right now. Wages are increasing but not keeping up with the costs that are rising, especially those that we have traditionally used as measures for establishing families and living in one's own home. If younger people are unable to aquire real estate it will also lower their wealth growth abilities too.

Bryce

That 8 dollar coffee is a symptom of poor money management. Do you really think that is their only wasteful spending practice?

The 8 dollar coffee and crazy high real estate(asset) prices(everything prices) has been caused by an increase in money supply

The more dollars there are,,,, the less purchasing power

Bail outs/stimulus/useless government spending,,,,,money printing!!!!

Houses are easier to buy today than when Carter was president. Much easier. People are being brainwashed into thinking that first home purchase is not possible.

Depends where you are....starter homes here are 700 - 800g, nice 3 bedrooms are hovering just under a million, new larger homes 1 1/2 - 2 mill plus. it's insane and the reason locals are selling out and the kids have to move to a lower cost state....

it seems money has no value to some people...where they got their money is a mystery....

Since when have conservatives been proponents of the free market?

The uniparty is alive and well.

gcs demand sets price. if kids are leaving its a good thing

If you have free market capitalism you would be able to live in a creation of your own not subject to zoning and building codes. Most people could figure out how to build their shack. Lived in a place like this for 35 years. It is your neighbors/builders/government that would not tolerate this freedom. You are stuck in the housing industrial complex.

X2

It's not $8 coffees.

Edit- graph may be hard to read but the red bar is price adjusted for inflation

That’s the same thing I’m seeing here in Southeast Pennsylvania. Housing prices are insane. A buddy recently sold his house prior to moving to Florida. He bought it 20 years ago for $200,000. He sold it for $420,000. When he first listed it, I told him there’s no way you’re ever going to get that. It’s just a three bedroom ranch on a decent lot.

Within a month it was sold.

There is a lot of truth in this statement.

Some years ago, special interest groups were lobbying lawmakers to require sprinkler systems to be installed in all new residential construction. It would’ve added an insane amount of cost to a typical new home.

A bill was introduced, but luckily, it was defeated, but only narrowly.