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Trulia Pushes The Panic Button As Young Adults Refuse To Move Out Of Parents' Basements, Get Jobs
Well over a year ago, we first suggested that the conventional wisdom thesis for the bounce in home prices - namely a spurt in household formation - was dead wrong. Sure enough, as has been confirmed empirically, the only reason for the latest dead cat bounce in home prices has been the Fed, and banks complicit in engaging in "foreclosure stuffing." And while it was easy to deflect the topic of just what is driving the housing market (because none of the bulls would want to admit it is just another credit and liquidity-driven bubble) for over a year, with the traditional "things will be back to normal soon" fall back used every time, as time passed and none of the traditional ingredients for a housing recovery fell into place, some started scratching their heads. This came to a boiling point today, when real-estate firm Trulia, looking at the latest Census Bureau data on household formation, finally threw in the towel and rang the panic button as not only have young Americans set anchor in their parents' basement, but even refuse to get a job.
That, and the "foreclosure stuffing" of course, with 53% of vacant homes helf off the market, "the highest share since before the bubble."
Below, courtesy of Bloomberg, is the summary of what Trulia chief economist Jed Kolko wrote in a note.
- Census 3Q homeownership, vacancy survey shows household formation “alarmingly slow,” vacancies “remain stubbornly high,” Trulia chief economist Jed Kolko writes in note.
- "Slow household formation number is one of the most alarming housing indicators to come out this year"
- Share of millennials living with their parents rose to 31.6% vs 31.4% y/y
- Household formation 380k in yr leading up to 3Q vs L-T “normal” increase of 1.1m
- No increase over past yr in young adults moving out of parents homes or getting jobs is “most worrying”
- Vacant homes still pose “problem” for recovery
- 53% of vacant homes were held off mkt in 3Q, highest share since before bubble
- 10.2% of all housing units are vacant, unchanged y/y, higher than pre-bubble level of 8.9% in 3Q 2001
And yet:
- Oct. Trulia price, rent monitors show asking prices rose 0.6% m/m in Oct., prices up 11.7% y/y, rents up 2.7% y/y
Why? Just ask Mr. Chairwoman. After all Mr. Chairwoman has been rumored (wrongly) to be very oracular when foreseeing housing bubbles. Like last time supposedly.
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You are correct that I have never lived on a farm. But, through film, I am aware of the slaughterhouse.
I just despise reality.
I forgot that I was responding to another Scientist. We are kind of strange.
When we go to movies...if ever...we are more likely to be annoyed when we watch the incredible or impossible and it removes any enjoyment.
I made a poor attempt at "dark humor".
I apologize for the annoyance.
And, no, I am not a Vegan.
I just find eating disgusting.
I am not annoyed. I appreciate candor. This is my advise to you as a Scientist talking to what I presume to be a fellow Scientist. Embrace reality. Walk in nature and experience the wonders, the scents, the deaths, the rebirths. Knowledge can neuter the experience ( my husband hated the movie War Games... The supercomputer was actually an old card punch and he couldn't let it go and grumbled..yeah, an old card punch will destroy the world...oooooh I'm SO afraid. No amount of elbowing on my part could shut him up!)
Work on a farm.Grow vegetables from seed to harvest. Participate in the slaughter of an animal. Not in the slaughter house but on a family farm who needs, appreciates and had personally raised the meat. Enjoy sex and the messiness of it. Risk falling in passionate love. Suffer if you are rejected. Once recovered, risk it all again.
The best antidote for a fear of something is to quit running away but to do a one eighty and furiously run toward it. No, this is not a rational response and it does seem to be a bit crazy but in my experience it really has the most power to change ones life vision. Do not divorce from reality Tom. Reality will always rear it's ugly head and bother you. Embrace it and you will defeat its hold on you.
Miffed;-)
Tall Tom, your mental images of chicken meat with veins and nerves (really, you can see the nerves?) leaves me rather unmoved, having just participated in the annual butchering of 30+ chickens. And yes, that included decapitating them with a knife, and then holding them down as they thrashed and spouted blood from their severed necks until their autonomic nervous twitching finally ceased (by the way, it is interesting to observe that the severed heads retain consciousness for up to 10 seconds after decapitation, as they will look right at you and try to crow from their now-silenced throats).
I do not say that to be or to come across as callous, as I actually do the job as humanely and respectfully as possible. Just as I did with a similar number of salmon earlier in the summer. I take no pleasure in killing these creatures, but neither would I feel some false sense of moral superiority in not doing so, or more to the point, in eating the final products of these butchering activities while pretending to ignore or forget about the necessary steps leading to their final consumption.
I just find life to be disgusting.
I am not blaming you, or, anyone else. You are not callous. I do not suggest that at all.
For example I am not a Vegan. I eat Meat and meat products.
But I find only the avoidance of feeling the knawing pain of hunger in doing so, and find no pleasure in it whatsoever.
I do not like the reality. But I do not deny reality either.
Tom, I like to believe that there is nothing fundamentally disgusting about exercising any particular aspect of our inherent nature as physical beings. We are what we are and what we have been for tens of thousands of years, and unless and until the wholesale genetic engineering of human beings becomes commonplace, nothing can change that fact.
Wadda ya think chicken salad is? duh...
Why is it foolish? I outlined a common track above for go getters who got an impractical degree.
Attitude is everything. I wouldnt hire someone for any job if i detected that attitude that you are too good for some types of work.
A future employer would much rather take a college graduate working at mcdonalds than the college graduate who had big gaps in his work history after college.
I think what you're missing is that people no longer believe in the track you are describing. Some of it is that many in the younter generations expect their first job to buy them a BMW and they feel it is beneath them to work up to it. That's fucked up and that is what you are focused on. But it's not all that. A lot of the attitude is a correct perception by younger people that climbing the ladder is no longer a reliable means of achieving future prosperity. Things that people didn't even think about 20 years ago like company pensions going poof during a structured buyout, are common experience today.
His theory is one from the past. A world that he thought existed in the past. It did to some degree. What you and I want to tell him is that the past was not as nice and easy as he makes it out, and the reality today is that that world is 99% dead. Kids climb the ladder? There is no fucking ladder! To climb the jobs ladder is hard, when that ladder has been pulled up over in China and that labor market is climbing it, as American kids find no rungs to reach for.
His Randian world view is a non starter in 2013.
His "plan" only worked because the three previous generations borrowed- er, STOLE- from the future generations.
FUCK YOU GREEDY OLD BASTARDS!
YOU EVIL, RAPACIOUS PEOPLE FUCKED OVER YOUR OWN PROGENY!
DIE! YOU EVIL FUCKS!
Re: A future employer would much rather take a college graduate working at mcdonalds than the college graduate who had big gaps in his work history after college.
(Sorry, mis-read the sentence, deleted my comment)
There are college degrees, and then there are College Degrees.
A petroleum engineer will make ?$100K right out of college.
But someone with a degree in "_________ Studies"?
Not so much.
of course there needs to be petroleum to engineer it.
"Attitude is everything. I wouldnt hire someone for any job if i detected that attitude that you are too good for some types of work. "
I never liked interviewing or working for assholes like you. You and your gay track and ideas and gayness. I would tell you like I've told other corporate minion types to go fuck yourself because you are stupider, weaker, and less productive than I am and I should be your boss.
If you cant stand to work for someone else build your own business then
Fuck trulia. you want people to sign up for 30 years of payments with no job security? you want young men to make the commitment of buying a house with a woman who doesn't posess the skill set to make a home, and thinks it's beneath her to do so anyway. if she decides she is 'unhappy', she can blow the whole thing up and get the house and a third of a man's income? how about let's make it easier for young couples to take the plunge, and reward behaviors that help build a healthy society. maybe then we can sell them some houses.
There are lazy kids, but that is not what is causing this.
Even the jobs you mentioned, are hard to come by because we have too many immigrants (Legal and Illegal), we've had most of our industry relocated overseas because of bad trade agreements, and the economy is weighed down by tremendous debt, personal and public.
They opened an IN-N-Out by me a little while ago. 10000 people applied for maybe 40 positions.
There are simply not enough jobs. This is all about planned destruction of the middle class, and enslavement to the governement. I wish people would just wake up.
Have no doubt, too. If IN N OUT gets sued a few times, regardless of payscale, they will find some robots to cook those burgers.
Automation is eviscerating sub 100 IQ jobs, and that's 1/2 the population.
They won't starve. The above 100 folks will be paying for them.
Re: Automation is eviscerating sub 100 IQ jobs, and that's 1/2 the population.
I sure wish more people could comprehend this 1/2 the population is below average concept, and society has to find something for them to do. Because the simplistic "survival of the fittest" response isn't reality.
Because the simplistic "survival of the fittest" response isn't reality. (???)
What are you smoking? You live in a Dreamland, a Fantasyland, a suburb of Disneyland, more appropriately known as JAIL.
There are Natural Laws. It takes a lot of ENERGY to delay the affects. But the affect will happen sooner, or, later. BUT IT WILL HAPPEN.
An airplane will fly, avoiding the Law of Gravity...UNTIL IT RUNS OUT OF FUEL...OUT OF ENERGY. If not landed BEFORE IT RUNS OUT OF FUEL then the Airplane CRASHES.
The Economy is running on the Energy of Quantitative Easing. Stop feeding the Markets with QE then the Markets will CRASH.
"Survival of the Fittest" IS A NATURAL LAW. It takes a lot of Energy to delay the affect of that Natural Law. But when we run out of Energy then it WILL CRASH. Then the CONSEQUENCES of Survival of the Fittest WILL BE REALIZED.
That is the REALITY. You can deny it if you like.
You can also deny the Law of Gravity if you like. But the impact on the ground after you jump off a cliff in your denial will be the consequence of your denial. It may be injurious and painful if you survive it. Or it may kill you.
But you will still suffer the consequences of not understanding the NATURAL LAW.
NATURAL LAWS ARE INVIOLATE.
And you do not understand the BASICS ABOUT ENERGY. When it comes right down to it...IT IS ALL ABOUT ENERGY. All Physical, Natural and even Economic Phenomena can be reduced to a statement about ENERGY. NOTHING, EXCEPT THAT WHICH IS VOID, NULL AND EMPTY, IN THE EMPIRICAL UNIVERSE EXISTS...WITHOUT ENERGY. That is the REALITY.
By the way...In my observational experience "Society" will do only that which is Economic and EXPEDIENT. They do not "have to do" ANYTHING. That is just the way that it is and the way that it has been. Nothing indicates that it will be much different in the future, what little of that which we have left. THAT'S REALITY.
Also I am not really all that impressed with the First Deviation "Above the Mean" IQ. (That means those having IQs of 100-115)
Roughly 85% of all people lack the ability to think...like you.
Tall tale, Tall Tom ----I call BS on your unthinking 85% and by the way nature and its laws change with each new dicovery and investigation. And of course it's not about energy --it's about motion-- by the way where did you get your degrees? IMHO you paid way to much--even if was free.
First you demonstrate your ignorance. Let's do some rudimentary arithmetic and facts.
Let's look at the IQ Distribution Chart and see what we may infer... (Of course INFERENCE DEMANDS THINKING.
http://en.wikipedia.org/wiki/File:IQ_distribution.svg
The !st Deviation is 68.2% of the Population by definition. This includes IQs of 85 to 115
The Second Deviation (Low end) is 13.6% This includes IQs of 70 to 84.999...
The Third Deviation (Low End) is 2.1%. This includes IQs of 55 to 69.999....
The Fourth Deviation (Low End) is 0.1%, This includes IQs of less than 55
Let's add the numbers...68.2% + 13.6% + 2.1% + 0.1% = 84%
That is the 83rd Percentile, pal. But people with IQs of less than 120 really do not impress me as ABLE to MAKE INFERENCES from the available facts. They cannot think..
LIKE YOU...AS YOU JUST DEMONSTRATED MY POINT.
So of course YOU CAN DENY THE FACTS if you want. You can write that it is BS. And, people, who know better, will just be able to get a good laugh...AT YOU.
Now to your misunderstanding about motion...
Ek = (1/2) mv2 where Ek is the Energy due to Motion, m is the Mass, and v is the velocity, the vector of the scalar quantity, which is a Speed, (which an infinitesimal change in Distance with respect to an infinitesimal change in time, dx/dt) in a specified Direction.
The equation is derived from summing up all of a Masses momentum and mulitiplying it by the infintesimal changes in that velocity. That is called an Integration of momentum with respect to speed. This is derived from Newton's Conservation of Momentum Natural Law...which is INVIOLATE.
I only taught Physics and Math for a living for a little while. I taught at the University.
Please demonstrate more of your inability. Laughing out loud.
Tyler, Why do you allow the dunces to post here? You also need some Calculus Symbols available for posts.
Not --not actually its just the opposite-- Automation gives sub 100 IQ types the chance to do highly productive important things ---
There ain't a lot of decent jobs.
Period.
This is a good discussion.
Not sure where to jump in so I'm getting a beer and will keep reading.
(disclosure: I have two adult kids of my own who don't live in our basement; but they can if they have to.)
Immigrants take advantage of complacency. They're inventive, determined and free of preconceptions beat into the minds of locals. They are an equivalent of new species being introduced into an environment. Many will become food, others will rise as unchallenged predators to dominate the foodchain.
As a citizen you have to know whom you are competing against in this global market. When getting an education, you have to take into consideration whether your job can be outsourced or performed remotely. If it can, then you have to study how much it costs others to get an identical education and what the cost of living is in their local jurisdictions that ultimately determines wage demands and competitiveness.
Ask yoursel if you live in the US and if the answer is "yes", you're pretty much fucked.
Great post JuliaS, Especially the part about immigrants. My grand father was an immigrant from Sweden. He came here at age 19, in the matter of a few years he had risen to a foreman job on the railroad, he had built a house and fathered three children. He bought a hobby farm and installed a friend from Sweden to live there and manage it. We sold fruit to local bakers. He bought a lake lot and built a cabin for us to enjoy the traditional Swedish weekend life at a lake cottage. He bought hunting property and also a remote wilderness spot and built a hunting shack. He did all this an passed up the locals to become a city counciler for years and held many pasts on government boards. While others expected the good life because they were Americans, he just got on with non stop work to MAKE the good life. Many envied him, but all he did was work. The trouble is now, that this type of life is closed off. The good jobs are gone, the job ladder is broken. His story is almost impossible now.
I admire immigrants of all kinds, legal and illegal. I believe they enrich societies and should be treated as messengers were in ancient times - with curiosity and hospitality.
Also, I do not think that legal migration is necessarily better than illegal border crossing. Many people I know who got into this country legally did so because they were privileged in their own homelands, having access to services which are denied to hard working commonners. The whole reason those people decided to move here is because they wanted to run away with someone else's money. I also know people who arrived as refugees and had to start from scratch, taking nothing for granted and expecting no handouts. Those people are true contributors to the economy - much more so than their paper-carrying foreign rivals or home-born American parasites blaming them for their own shortcomings.
julia s, not go pick on you, but that view of what is going on right now is incredibly idealistic and completely blind to what is happening. immigration is the end of western civilization if it continues or increases. there is zero benefit to bringing any more people into america. look at unemployment and food stamps. if you believe in clinton's third way, using the poor or non-productive to funnel money to the multi nationals by lavishing welfare on them, then more bodies make sense, it is faster to import them than breed them. but if you believe that we had built the best society in the history of the planet, with the most opportunity for the most people, and that it is worth protecting, then why are we trashing it? the achilles heel of globalization is intentionally destroying western civilization. they come for the welfare. we bring them here to give them welfare. wake up.
Which is exactly why unrestricted trade and open borders are the enemy of the more prosperous country, and the introduction of it is destroying the middle class and freedom. Immigration must be directly linked to the jobs available. At 23% real unemployment and young people living in their basement, we should not be allowing immigrants right now.
Wrong answer julias. immigrants take advantage of a welfare state that your english only lily white liberal ass doesn't even suspect exists. pollo tropical is a local chicken chain in florida. had been mostly staffed by latins. clean, friendly, competent. good place for lunch. in a span of 6 months practically all staff replaced by haitians. places instantly became filthy, almost unable to produce food. we had to stop eating there. didn't understand why a well run company would make that choice. did a little digging. federal government provides a tax credit of up to 9 grand to hire haitians or other 'disadvantaged' types. do the math. why bother serving food. you could pay off your capital investment in a few years just with your labor savings.
You may have saved your life. 75% of my TB isolates are illegal aliens. They also have high rates of Hepatitis A and C. Many hispanic prostitutes coming up from Mexico have Chlamydia and GC together. Eating out now is really hazardous to your health in so many ways. Many public health diseases that were eradicated long ago are making a come back. This country is so fucked in so many ways.
Miffed;-)
Many of our friends and family forgo eating out and prepare new dishes that we share together. Its not the price of the food in restuarants, its just that food preparation here [I live in the Republic of Maryland] is increasingly suspicious. I either grow our own food now or buy food directly from Amish farmers. I can honestly say our local Health Dept is severely understaffed.
My daughter is the anti-lazy kid. Started working fast food in high school, now is a teaching assistant while going to college full time. Her hours were cut from 40 to 29 (guess why?). There isn't anything better right now where she's at.
The pretty young ladies have one thing and one thing only they can do. Marry rich. Rich men in their 40s will flock to pretty ladies in their 20s.
That's much more difficult for the young men.
The Rich Homosexuals from Scottsdale still drive their Lincoln Contientals through the "Fruit Loop" District of Phoenix picking up the Teenage Homosexual Boy Prostitutes (underaged) WITH LAW ENFORCEMENT turning a Blind Eye.
I watched that happen, LIVE, for an Entire Month as the Construction Firm, which I worked for as a Civil Engineer Tech, was boring a Underground Drainage Pipe for the completion of the Interstate 10 Inner Loop. That was back in 1986.
It was sick then. It is abysmal now.
And as for young men. There is plenty of Old Rich Cougars out there. I was tutoring this College Kid who was really well off. His Old Lady had died and LEFT HIM HER ENTIRE ESTATE. He reported that all he had to do was perform Cunnilingus on her for 6 Days per Week. The Seventh Day was his to do as he pleased.
Ahhh...The life of the Gigilo is not as it is sensationalized by HollyWEIRD.
I cannot write that life is boring. I have met a wide variety of people and have seen and witnessed far too many bizarre events. I have rarely traveled outside of the United States Southwest. I am certain that it is just as strange everywhere else.
You think McDonald's is going to hire someone with only a bachelor's degree to flip burgers when there are phd's lined up?
there is nothing inspirational about the economic outlook. Today's kids are the ones that need to crash the current system. If they have to do it by sitting on their asses until the banks skimming operation starves to death, so be it.
Justified, yes. But only for them to feel that way.
Any grown kid of mine that is living at home WILL be flipping burgers if that's all that's available-while they are actively sourcing their resume. Personal esteem does not necessarily develop by sitting on the couch.
Working six months in a chicken plant was where I learned the most valuable lessons for a young adult to learn.
let me guess, because I'm pretty sure I've heard this story before:
You had to walk six miles, uphill, barefoot to get to your job and then another six miles uphill after a 16 hour shift to get back home to your one room, dirt floor cabin on pontification mountain. and they paid you with sacks of dirt and chicken guts....And you were grateful!!!!
Those tired ass bullshit stories make me sick. Sell that nonsense somewhere else, we're all stock up.
Lol. No. That was my grandpa.
The reason they walked barefoot even in the winter was because they got one pair of shoes a year. They had to make them last.
They put their shoes on when they got to school. It was a two mile walk he said.
so what do you want? free money? whats your answer? sit on your ass and watch the world go by without you?
you forgot the snow--no good walking to work story leaves out the 10 foot snow drifts and freezing rain.
Hey I implied snow. I said winter. Fixed it for him.
Still not sure how you walk up hill both ways. Kinda freaky to think about.
Weird, Bill Clinton said the same thing
Mr. Tyson, how do you make a chick strip?
You know what valuable lesson a kid would learn by doing that after a few years of college? that their parents were fucking morons for insisting they go to college when they could have dropped out of school at 16 and gone to work at that same stupid fucking job and been a supervisor by now and be living large in a double wide with a fat wife and two pregnant teenage daughters and a deep fryer that is always well stocked with chicken!.
..... He's an angry elf .....
https://www.youtube.com/watch?v=xjmjtOnDyYs
I thought all kids thought their parents were fucking morons at that age. When did it change?
just morons
the fucking morons are the ones with the large families
or the catholics
Davey seems that there is (at this time) 1 actual Catholic here. -1
As well as one lapsed one, moi. +1
pods
12 years of catholic school so I'm entitled to say it
(It's like another group that gets to use the N word)
Do you really think that fucking moron Protestants don't fuck? Look at the Moron Church...hmmmm...Mormon Church...and the size of their families.
The other Protestants practice Birth Control...They believe in violating the "Be fruitful and multiply" edict.
(I thank God that I practiced Birth Control with my ex-wife and thus leave no offspring with which to deal with this wretched inheritance. So I sinned. My DNA dies with me.)
do you really think thaf fucking Davey was serious
About as serious as that arrogant asshole Tall Tom...
Which one of the Yorkshiremen are you?
http://www.youtube.com/watch?v=Xe1a1wHxTyo
#41
If it looks like chicken shit
and it smells like chicken shit
and it tastes like chicken shit
It is most likely chicken shit
Unless it is a POMO day - then it is BTATFH
Hey man, i literally had to shovel human shit one summer. From then on I knew I would find a better job.
Now I support the whole family with my job, and no college degree!
Good article...
Surviving the post-employment economyhttp://www.aljazeera.com/indepth/opinion/2013/11/surviving-post-employment-economy-201311373243740811.html
great post
the bad guys continue to win as they turn the generations against each other so they forget who caused this criminal implosion in the first place.
One of my favorite photos on this site was posted by Banzai I think. It's WWII vets standing with 20 something Occupiers. That's the beginning of the way out.
Yes, allowing them to divide and conquer those of us who see what is happening takes the focus off the guilty politicians and bankers.
We are in this mess because of corruption, theft, and treason. None of us asked for what is happening to our country. Those of use who have warned about it for decades do not deserve it anymore than those who unfortunate enough to be coming into adulthood just as our economy is failing.
We must do whatever we can to turn this around even if we have to do so after the whole thing collapses. To do that is going to require us to be united against those who are too ignorant to realize they are being doomed to poverty and tyranny.
Obama turned America into Detroit. Loads of young whites helped enable this by voting for him. Not very smart on their part. I guess you reap what you sow. Nice job.
If romney was elected, waht would be the difference?
Ron Paul? doubt he would still be alive.
A bullet to the chest changed Ronald Reagan's mind. The Secret Service are US TREASURY AGENTS. Maybe Ron Paul might have survived a gunshot as Reagan did.
To the people that Downvoted you...You had best understand that there was a Coup d' Etat one half Century ago as of the 23rd of this month.
Ron Paul would have been my first choice followed by Santorum. Gingrich and Romney were backed by Adelson of Sands Casino and Newt is CFR like Clinton. I think Romney would have been blocked from doing much of anything which would have been a good thing. McCain makes my skin crawl but it would have been the same thing. The joke is they wee set up to lose.
Elections are totally rigged - see VA tonight. McAuliffe is as corrupt as Corzine.
Becoming disillusioned that ZH readers include fat slob American student pricks with discustung sweat BO, or similar dross who have no idea (cue Cramer) about earning a wage. If this is you, fuck off, you irrelevant fat scum!
And before my battery dies, I hope Tyler will agree that I detest existing system, you young guys don't know the half... Now , adios for now ciao and tchau
Confused? You will be ...
2 years in Mom's basement qualifies me for SSI.
Jokes on you motherfucker!
Over.
If your horse was any higher we'd have to call you an astronaut.
pods
Jesus, you guys are just spectators... Go and do something useful
I hope Tyler's have an app that shows how many readers are morons living in their parents' basements, like that sad idiot in die hard four who thinks it's his HQ base or some similar idiotic place
Now beat it, dead beats..
Spectators? Doubt it.
I love it how older folks (I'm 40) always have stories about how they "worked their way up" and how the youngins just don't have it in them to do the same.
Well times ARE different. Most older folks lived on the cusp of our fake ass debt fueled "boom" beginning in the 80's. Easy credit allowed leverage on the upswing.
Not that I am blaming them. Just different points along the same timeline.
But with exponential growth (in interest) comes exponential responsibility in paying that shit off.
If I was 20 and looked at getting some entry level job having to be fluent in Spanish to see almost nothing after taxes and then seeing others working a couple hours under the table for the same disposable income who would you call the smart one?
You preach the same tired ass dogma that was preached about "paying your debts" when housing took a header, while all the SMART folks, including IIRC the NAR headquarters fucking mailed in the keys and used the rules to THEIR advantage.
pods
excellent post pods
I love how the naive call the victims lazy
Work under the table then. You are lazy and narcissistic if you arent willing to do something to earn your leep but mooch off others.
Lazy young scum, die, you pricks
I really hope you lose your internet connections , then you will be useless and isolated
Lol. You are lazy and entitled if you wont work and expect somebody to support you.
Now get off my lawn you lazy good for nothing whippersnappers.
I get my internets at the public library for free and Mom loves it when I'm gone for 16 hours. dipshit.
Over.
I am 56 and agree with you. The first job I had where I got a paycheck I earned $1.75/hr. If I worked that job full time I would have earned $3,500. For that money I could have bought 3.5 BRAND NEW Volkswagon Beetles. At fulltime job at today's minimum wage is about $14,500 which might buy you one brand new cheapest car out there. My $1.75 would have bought me 7 gallons of gas vs. 2 at today's minimum wage. Meanwhile SS and state tax deductions are higher and everything else, community college, nbooks, etc. are much higher proportionately because of the stupid fucking Fed blowing bubbles. It is a hell of a lot harder for kids today. But, it is what it is and bitching about it get's you know where. The choice for kids today is to accept the shithole the government made for them and tke advantage of the leisure they can enjoy or scramble a lot harder if they aspire to more.
Good post. It's important to realize that taxes are not just taken out of your paycheck, they are also built into everything that you buy. The kids are getting a raw deal, and if scruples won't stop the older generation from squeezing the kids dry... I don't know what will.
Well, I am older, and yes, I worked my way up from just about zero.
Things were different. I did not have a TV until I was 30, and only bought one then because I got married. Of course, there was no cell phone, no computer, no internet, no printer. There was no Air Conditioner, either, and I lived in the South.
There were jobs, though. Living was a lot easier, too, when there wasn't so much shit that everybody thought they had to have.
Naw, Cacete my friend. Redneck families only gotta buy one cigarette, the whole family SHARES the smoke in the room. Hell, we saves THOUSANDS a year that way har har har...
You seem to be a clueless FUCKING IDIOT! THERE ARE NO JOBS!
I don't see the problem. A couple of generations ago, families were huge - my father had 8 brothers and sisters and my mother three - and the houses were small. Kids of that generation more or less had to leave. Now, houses are huge and families are small, so the houses can accomodate multi-generational occupancy. If everyone gets along, what's the biggie? (except for fewer houses being sold, of course)
Ponzi schemes don't like stasis.
Up, up and exponentially away!
pods
I guess the young are smarter than people give them credit for. why go into debt to buy real estate at these inflated prices... and have to pay inflated health insurance while being underpaid at some shit job... in short, the youth just mail it now and wait for the collapse.
I certainly didn't sign up for any of this shit. So yes, I will wait to produce (for profit in a capitalist market) until there is sound money again.
Good for you man. Fuck this nonsense. It's a repulsive grift. Do not participate. It's the only way to bring this fiasco to it's well deserved end.
I mean to say having my own business. You still have to work today, for yourself or someone... unless you're a welfare king/queen.
I know two people that moved back in to their parents basement and now stream video games and live off the donations. They have college degrees in Comp Sci BTW.
They're still serving the corporate masters, but are not as attached as the average person who works in his/her cubicle everyday.
Parasites
asshole
Funny how that's working, huh. Go out into industry and they don't want you because you're a little CS student wanker with no production experience. Training? Only the Ciscos and Microsofts and them give you that, and even then it's shite shite shite.
There are an equal number or more students-to-be for med school doing the same shit, kickin it for a couple or more years at mom & dad's before racking up 300K in debt. LOL, what a world we live in.
I was having a meeting with a client at a local Panera Bread. One cashier and one person in the back making sandwiches had college degrees but the kicker was, while we were chating a late 30 something woman came right to our table and asked if their was any work for her in our offices. (This is in an affluent area of Northern NJ) She was holding her Laptop and had a sense of desparation on her face. These are the times so BTFATH
Did you pay $8.95 for two slices of bread with $.50 worth of meat inside and a small bag of crappy potato chips?
Panera is SOOOO worth its $4.7 billion market cap.....
I spent 8.95 for the 10 spoons of soup and a half sandwich which had a slice of cheese and tomato and the crappy potato chips.
It's gourmet dawg. /s
but only once
.50 cents of meat. Try maybe 0.08 cents. I would go there once in a while but the turkey sandwich with cheese was a joke. There was almost no turkey or cheese.
Freddie you eat at Panera Bread? I know they don't advertise on TV but your Hayduke card has been REVOKED!
Reminds me of the first weeks after I got out of the military. I went to a near by city of 100K. I found the industrial row, and went from factory to factory putting in applications. In two weeks I got a call from one that made heavy log loading equipment for the logging industry world wide. Two days later I was in blue coveralls working in parts departments getting the right parts out to assembly floors. I liked the work, and the guys were good to work with. 6 months later I left for technical school. But how many of today's kid could ever do what I did. Walk down a line of productive American small factories and apply for work. As we shipped these world class loaders out the back door on semi flatbeds, you felt like your work actually added value to America's economy. A nice feeling.
jeez, someone down voted that?
He's got his own personal hater/follower. We should all have one. I think I've got 2.
Taylor, please take a breath..
I can't keep up with all these new articles, thanks...
Why would you move out when you can live rent free and life off of student loans and SNAP?
No basements in Florida so this must be someone else's problem...we do have lots of empty condos tho...
"Census Bureau data on household formation, finally threw in the towel and rang the panic button as not only have young Americans set anchor in their parents' basement, but even refuse to get a job."
And why should they, it is called starving the beast. The real money in any economy is people, their production and problem solving skills. Everything else tangible or otherwise is just an agreed upon store of value of that capital when it produces more than it takes in energy wise. As long as they are productive members to the household and family.
The system is rotten to the core as is because too many people are. If it can't be reformed let it starve or burn the fucker to the ground since it is quickly becoming more and more apparent that the cockroach infestion has progressed passed roach bombs and pointy toed boats to clean the place out. It maybe time to condemn the building. It is ultimately up to the individuals here. If you want participation clean up your acts and clean out the cockroachs.
I got an even better idea you want these kids to work give em roach bombs........
The system is largely incentivized against wanting to work since you get fucked one way or the other unless you are a corrupt bastard willing to play in a corrupted system. And people wonder why kids are saying fuck it why should I participate. The system incentivizes exactly this sort behavior whether it is the FSA types or the smarter ones who would rather hide in their parents basement not taking handouts from the state hopefully being able to ride the storm out until something changes since they are cut off from resources necessary to get ahead or the return on working is not worth the output of their labor to try to get ahead since they never will. Hopefully at least they are providing value, production and worth in other manners to their families and households first and the state second. These kids might wind up being as poor as fuck , but being poor as fuck and up to your eyeballs in debt as opposed to poor as fuck and out of debt are two totally different things. When the dollar collapses those out of debt are going to be the ones better off poor as fuck or not.
In case people forget it used to be that way family first, state second once upon a time in the US and it wasn't that long ago.
When working no longer pays, people no longer want to work. Funny thing, that. Let's review the deal offered to most people now - "Here, have a crappy job with no benefits, no vacation, no sick pay and no retirement. We'll pay you so little that you'll be falling behind with every week that you work from just trying to pay the rent and buy food, and you can look forward to being used up and eventually discarded like a burned-out light bulb."
Gosh, can't imagine why people aren't just flocking to jump in and enjoy such a great "opportunity."
What a wealthy society we have if adult parents can support a life of leisure for their adult kids.
Bad economy? You aint seen a bad economy yet.
That a /sarc? those parents will be homeless along with their children in a year.
Why the fuck get a job?
Get free (subsidized) Obamacare even with a pre-existing condition.
Get a shitload of other govt freebies.
Join the free shit army and ride it for as long as you can and just party all day.
Just loads of free stuff. Obama phone, free medical, free food, welfare and education. Why work? Obama will just keep raising taxes on productive people and give it to the FSA.
yep - why be a tax donkey - been one for 35 years - time to quit, get on the dole, get my tax contributions back, and starve the beast
"Joine The Free Shit Army" - well done. May I use that?
Getting completely tired of the "Free Shit Army" trope simply because most of those are using this term to only to SNAP & disability recipiants and the like. Small time grifters at worst. How about focusing on the REAL FSA: big-Finance, big-Pharma, big-MIC, big-Ag, big-Energy (the list is endless). Start at the top not just with the fatass in front of you at the local Wally-Mart with the EBT card.
Remember the "Be All That You Can Be" Army slogan of the 80s and 90s? I've proposed alternate lyrics:
"Free, All this shit is free, In the Free Shit Army"
You don't needs no job when you gots obamamoneys!
Look you degenerates, stop living off someone else (the previous generation) and accepting failure. It's just yourf@&ked up mindset.
I only hire open minded go-getters
the previous generations are dumping truly unpayable amounts of debt on these kids. and forcing them to live in a fascist system. it is perfectly legitimate to opt out as long as they have some arrangment with family or friends that all are ok with. fuck the system. one way to end the current tyranny is to not play along.
Wait a second here - aren't the older generations pilfering the future generations?
I guess stealing the money of future generations has consequences - like having to pay their way.
To do what? What job are you offering & how many applicants turn up for each?
This is a misleading article. This demographic is longing for the benefits of signing up for Bronze Plans in the ACA marketplace. According to election exit polls, they in fact demanded this access. Freeing up the costs of a mortgage or rent just ensures they can purchase their plan, and the lack of employment ensures they get a subsidy. I am not sure which magic money tree pays for the subsidy, but I bet it's huge.
I always paid rent at home from when I was 18 and not in school.
Fed banksters supporting infinite school loan debt are going to make this worse. Greenspan claimed overseas outsourcing and asset prices to the sky was a good thing.
Now it's bearing poisonous fruit and for the foreseeable future.
Looks like the Twitter book just went 25X oversubscribed.
The fantasy is over. Reality is a bitch !
Look becoming a working stiff CAN be FUN:
-Lots of humor about beer-guts, heart attacks, hamster-mills and sexless marriages!
Some may refuse, but the job market blows ... you can't blame the young people for that, not in the least.
Dammit Dad. Why did you have to kick me out of the house when I graduated college. I could have taken the money I used for rent and a mortgage over the past fifteen years and invested it in Google, Chipotle, Priceline, and Netflix. Then I'd be a multi-millionaire living in your basement.
Then I could say, fuck you I'm moving to Miami to buy a condo and I won't have to work another day in my life. All I'm going to do is drink and do large assed women all day long.
LOOK I JUST DESCRIBED THE NEW AMERICAN DREAM AND MILLENNIAL WORK ETHIC!!!
Grand Theft Auto, a template for your life.
Whatever works.
Thats the template.... whatever fucking works.
Good thing you did not buy tesla.
If you know someone who can pull this off, please send it to them.
Thanks!
+++++++++++++
Hillary - the Orwellian Joker-noire
IF YOU ARE A CREATIVE WEB OR VIDEO ARTIST, OR KNOW ONE, PLEASE READ THIS CREATIVE IDEA AND THINK ABOUT DOING IT:
The Hillary face on the button entitled "Ready" that her PAC is selling is almost a caricature of the Joker. Some minor touching up, and you'd have it.
In addition, the lack of background makes it perfect to use in the 1984 scene from the Apple Super Bowl commercial with the face up on the screen.
Creative idea: I don't do this professionally, or I would: 1) Crate the Joker take-off on her face; 2) Do a merge of the Obama Joker face merging into hers, communicating that this is really just one Joker followed by another; 3) Place her face on the screen that everyone is looking at in the "1984" Apple Super Bowl commercial;
If you are good at video, then 4) Create a YouTube video of the transforming Obama to Hillary Joker face in motion; 5) Take that segment of the "1984" Apple Super Bowl commercial with all the people walking in, and put her up as the face on the screen - of course, post it to YouTube.
Now, send the links to either the art or the video, or both to every on-line news outlet you can think of - might as well start here, or with The Hill, since they are the ones who posted the t-shirt that will be the jump-off point for this idea.
If you are a graphics, or video artist, never forget the great publicity those who did up the Joker of Obama received - it is still viral to this day.
And don't forget the impact your art and video will make in putting Hillary into her proper perspective - an Orwellian Joker-noire.
If you don't do this type of art work yourself, please copy and paste this in an email to everyone you know who does do it.
To find the picture I referenced, go to the web site readyforhillary, then go to / shop now / scroll down to the bottom of the page.
Please help us find someone to do the artwork - ridicule is amazingly effective.
Please take this creative suggestion seriously, and start Hillary’s campaign off as the Orwellian Joker-noire that it really is.
-30-
jobs? jobs??
we aint got no fuckin stinkin jobs.
They want people to magically get hired by god hahahahaha .
Theres jobs out there.
Most of them aren't even worth the time, you will burn more gas and calories working than the hourly wage would replenish.
Who the fuck wants to work 3 hours just to pay for lunch and then not even have enough money to move out, thats the situation most of these people are probably in.
Even people WITH "good jobs" 30k ~40k a year hardly have enough money to see a real return on their labor.... if you aren't singl and only one of you is working chances are you can't afford anything other than someones basement.
You need 90k+ a year income just to start a family, thats why the birth rate is soo low...... 90k a year income can probably get you , your wife and kid a 2 bedroom apartment (600sq ft ~ 900 sq ft) and MAYBE leave you enough money to eat Rice for dinner, oatmeal for breakfast and an apple for lunch.
The problem is that no 90k+ a year jobs exist , there are only say around 10,000 "good jobs" worth going after, everything else is slave wage, almost enough to live in a shack and eat canned beans, sleep wake up and go to work.
If you ask me, FUCK THAT get the fuck out of here and find some tropical island that no one lives on and just bring a beach chair with you, no fucking point in wasting your time so one asshole who doesn't give a shit about you can get rich, fire you and retire.
Order out of Chaos, only after a complete collapse can things begin to improve.
People only work.... if that work will equate to a material profit for themselves.
If you go to work and take a fucking loss on your labor , theres no fucking point.
TLDR: Wages aren't enough incentive, the wages are too low to motivate people to go to work.
no one talks about all the work around the house----if the kids do that then the cost of having kids in the basement is way cheap for mom and pop.
Disagree with the "refuse to get jobs" part of the headline. What jobs? Waitress at Applebees? Wal-Mart greeter? Orderly at the local "assisted living" facility? To make minimum wage (or perhaps less if you're the waitress) all of which will go to either banksters as student loan interest or .gov/big-insurance for ACA premiums. What is there to work for? I think it is more grasping reality than laziness here.
"There's no future, no future, no future for you" - Sex Pistols (even truer today than in 1976)
Starter jobs are just that. Starter jobs. Bust ass and prove yourself.
Re: Bust ass and prove yourself.
They will eventually, but - really - what IS the point of "busting ass"?
There's no point in working, it's a complete waste of time OTHER than to give you comfort when NOT working. If you have a good life "living in the basement" there's absolutely no point in working.
The smart-n-savvy young people should be doing exactly what their smart-n-savvy parents did. Get in on a scam, and screw it for all it's worth.
I would agree with you if this was 1995, but its 2013, most people have been stuck in their "starter job" for the past 10 years, at that point you either start looking for something else, or you contemplate criminal enterprise to get ahead.
Most successful entreprenuers probably commited some crime to get ahead.
Most of the rich traders who made bank were card counters and cheaters at casinos.
Most of the industrial giants probably had their hands in drug money at one point or another.
America is about commiting crimes, not getting caught, getting enough money to start a business and then becoming successful.
I don't think very many people broke the 2 million dollar income level without breaking some rules somewhere along the lines.
Rich money, by most deffinitions is usually never honest money.
The only way to prove yourself in this environment is to commit some financial crime get rich and pay off the right people.
Only if there is something higher up the ladder after the entry level that is realistically reachable. I agree you should start low and work your way up but when there is nothing to work your way up to what then?
Prove to whom? Working harder does not automatically translate into increased pay or position. It means even less when all that is available is part time work for peanuts jobs. Heck, every company I've worked for has tried to outsource ever business function they can to Kraplokistan. I've clawed my way up the rungs for 20 years, and guess what I've learned? It's not fucking worth it unless you have connections. I can't even imagine trying to start out today. The entire job market is imploding, even for the people that have "proved themselves".
People are catching on to the rat race. It's a strange game. The only winning move is not to play.
but...but... there's only like 3000 people in line per greeter-job at McWallyMartz.
Oh my, time for Team Food Stamp to offer up $10,000 tax credits to sign on the dotted lines.
I don't know about America... But In Germany most of the jobs either suck OR they demand to much.
400€/Month for an electrician, mechanic, butcher........ week by week I'm reading this... As if these Jobs don''t require any skill.
And Jobs which require a Bachelor degree demand advanced software knowledge...and far more than a student can learn. Well... they could teach this stuff at universities... but no... students need to learn what they do not need - Thank you
I wanna be honest here... maybe it's good that the youth don't get any jobs and live at home... maybe the job market wakes up then. I'm just done with this kind of treatment.
Entering week 10 of living (during the shortened work week) in my stealth cargo van that I am converting to a camper. Sold the house in the city, moved the family to a nice acreage 2 hours away. I got to say, its working out pretty well. So far, I have gotten the employers to accept working one day a week from home, next is to try for two. Propex heater was the best investment yet.
Zerohedge, your the only one I have told aside from my family that I live in a van. (first rule of stealth van living).
Re: your the only one I have told aside from my family
Well, and now the NSA. Good job!
What type of van? A Sprinter?
The heater uses propane?
I detailed the setup in an earlier post, search my history there's a lot of info on it. I'm stuck on my phone right now.
Alas, earlier posts often don't exist. They have been cleared out regularly lately. Almost all of mine suddenly disappeared; it's happend to a lot of posters. If you are fond of any of your posts, copy them down elsewhere.
Congrats on your housing! I read your early posts re it and remember.