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Number Of Middle Age Californians Living With Their Parents Soars

Tyler Durden's picture




 

In the latest indication of just how strong the US "recovery" is, we find that the number of Californians 50 to 64 who live in their parents' homes has surged in recent years, which as the LA Times less than sarcastically adds, reflects "the grim economic aftermath of the Great Recession." Wait, don't they mean the great recovery? Because isn't the S&P just 10 points from its all time closing high? Maybe all those middle-age Californians are merely seeking their comfort (and spare bedrooms) of their parents so they can all use the family E-trade terminal together.

But since everyone knows the latest handout to the population by the administration is ObamaTrade in which everyone gets $100,000 to BTFATH, we know that is not the case, so surely the LA Times is joking.

Unfortunately, it isn't.

Here are the details - "for seven years through 2012, the number of Californians aged 50 to 64 who live in their parents' homes swelled 67.6% to about 194,000, according to the UCLA Center for Health Policy Research and the Insight Center for Community Economic Development. Many more young adults live with their parents than those in their 50s and early 60s live with theirs. Among 18- to 29-year-olds, 1.6 million Californians have taken up residence in their childhood bedrooms, according to the data. Though that's a 33% jump from 2006, the pace is half that of the 50 to 64 age group."

Here, once again, we run into the lack of that R(ecovery) word again:

The jump is almost exclusively the result of financial hardship caused by the recession rather than for other reasons, such as the need to care for aging parents, said Steven P. Wallace, a UCLA professor of public health who crunched the data.

 

"The numbers are pretty amazing," Wallace said. "It's an age group that you normally think of as pretty financially stable. They're mid-career. They may be thinking ahead toward retirement. They've got a nest egg going. And then all of a sudden you see this huge push back into their parents' homes."

Hmmm, if it's not the recovery, maybe it was the snow in the winter? After all that explained all the bad economic data in the past 3-6 months. Surely the polar vortex is the reason for all this renewed family circle "warmth?"

The surge in middle-aged people moving in with parents reflects the grim economic reality that has taken hold in the aftermath of the Great Recession.

 

Long-term unemployment is especially acute for older people. The number of Americans 55 and older who have been out of work for a year or more was 617,000 at the end of December, a fivefold jump from the end of 2007 when the recession hit, according to the Bureau of Labor Statistics.

 

As with Rohr, those in their 50s move in only as a last resort. Many have exhausted savings. Some have jobs but can't shoulder soaring rents in areas such as Los Angeles or San Francisco.

 

Whatever the cause, moving in with Mom and Dad exacts a bruising emotional toll. Even asking to move the family in was difficult for Rohr.

Maybe not. Actually, in retrospect, maybe there was no recovery at all. Maybe the Second Great Depression - when one ignores the HFT-rigged and Fed-manipulated market hitting daily all time highs - has just been getting worse and worse.

"I said 'Mom, I'm so sorry but I don't know what to do,'" she said. "I dreaded it. If it wasn't for my boys I wouldn't have done it. I would have lived in my car."

 

Jenny Chung Mejia knows how tough it can be. As a public policy consultant at the Insight Center for Community Economic Development in Los Angeles, she helps people and communities regain their economic health.

 

"It's unexpected vulnerability at this point in your life," she said. "When you're supposed to be the provider, sort of the rock for yourself and your family and maybe your parents, the table just gets turned on you and the rug gets pulled out from under you."

 

That's what happened to Janine Rosales, who moved into her mother's San Francisco home two years ago after a career of mostly low-paying jobs left her unable to afford the city's towering rents.

 

For Rosales, 53, it represented a personal defeat, an unofficial marker of unmet goals in life. 

 

"I sit here sometimes and I see baby pictures of myself and my teenage years and remember all the dreams I had," Rosales said. "I never thought I'd end up where I am."

Fear not Rosales: every personal defeat and failure in life can be quickly converted into a win, if only on paper - just remember to BTFATH, and failing that, BTFD. The same goes for your parents:

The situation is also trying on elderly parents.

 

They feel the anxiety afflicting their children. Aging people on fixed incomes also worry that the extra money they spend on utilities or food will drain their own limited retirement savings. 

 

"When I use up all of my money, who's going to help me?" said Rohr's mother, Penny Goulart.

Well, there's always Aunt Janet, and all those activisit who made billions in the past two months buying calls on a stock they knew would be acquired.

Either way, always repeat: the recovery, the recovery, the recovery:

Rohr is applying frantically for jobs. She's willing to do anything but has had no luck.

Or not. Still, remember to smile, because it will only get worse beofre it gets much worse. Some context: "About half of all Italians between 24 and 35 still live with their parents, compared with 14% in the U.S." ... All coming to America's "recovery" next.

 

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Tue, 04/22/2014 - 11:51 | 4682757 Latina Lover
Latina Lover's picture

Welcome to the bankster run plantation Amerika, land of the poor, home of the slave.  

Tue, 04/22/2014 - 11:52 | 4682766 tarsubil
tarsubil's picture

"O say does that blood-splatter'd banner yet wave,

O'er the land of the fee and the home of the slave?"

Tue, 04/22/2014 - 11:53 | 4682774 TahoeBilly2012
TahoeBilly2012's picture

Hey don't knock it til you tried it, Foods great and my Mom shares my politics for the most part. It's hard to move on man, this is good livin'!

Tue, 04/22/2014 - 11:58 | 4682796 Slave
Slave's picture

MISSION ACCOMPLISHED

 

Sincerely,

Foodstamp

Tue, 04/22/2014 - 11:59 | 4682807 Xibalba
Xibalba's picture

Wait..why don't they all sign up to become Herbalife distributors...er..I mean small bizniz owners

Tue, 04/22/2014 - 12:19 | 4682905 The Juggernaut
The Juggernaut's picture

End the Fed!!!

Tue, 04/22/2014 - 12:26 | 4682929 Skateboarder
Skateboarder's picture

Evening Mrs. Jones. Can Billy come out to play [Bingo]?

Tue, 04/22/2014 - 12:35 | 4682968 fonestar
fonestar's picture

Bitcoin is the ticket out of their parent's basement!

Tue, 04/22/2014 - 12:38 | 4682983 Skateboarder
Skateboarder's picture

And into the attic.

Tue, 04/22/2014 - 13:03 | 4683104 Joe Davola
Joe Davola's picture

and back out onto the street when the feds come for reimbursement after paying for Mom and Pop's eol medical bills.

Tue, 04/22/2014 - 13:08 | 4683128 zerozulu
zerozulu's picture

more and more people should live with their parents. This will unite a family. Divided family is an easy meal for the authorities. Save housing expanse, save utilities bill, save baby sitting expanses. If one need emotional help will be available right there, 24/7. IMHO

Tue, 04/22/2014 - 13:48 | 4683339 Telemakhos
Telemakhos's picture

There's something to this.  Extended families used to live together, and the elderly knew that they would be looked after by family rather than hired strangers, and the middle-aged had their children looked after by family rather than hired strangers, and a household was a prosperous and stable unit.

The push for every grouping of any size over one person to own a separate home certianly did wonders for the mortgage and construction industries.  Separating grandparents from their children and their children's children made more jobs for child-care and elder-care.  Both of those took a heavy toll on the efficiency of the household and its ability to save up a patrimony to pass on to the future, not to mention on the ideas of family traditions (things other than television and ephemeral cultural phenomena, which are now seen more as common to a demographic market than to a region or people, unless you're talking about immigrant families that haven't been broken up yet).

Tue, 04/22/2014 - 14:14 | 4683479 TruthInSunshine
TruthInSunshine's picture

Chazz Reinhold: HEY MOM! CAN WE GET SOME MEATLOAF?

10 Minutes Later: MOM! THE MEAT LOAF! FUCK!

In other news, the American Middle Class is broke dick poor, Taco Bell has Loaded Grillers $1 "Happy Hour" (get your edible food-like substance feast on), and Moochelle sayz "life is about splurging."

Middle Class Tango Down! If you aren't in top 5% (where median annual income is only $53,000), you're just going to have to suck it up (the top 80% to 94% already ate each other - wait for the top 95% to 98% to do the same).

http://www.nytimes.com/2014/04/23/upshot/the-american-middle-class-is-no...

Moochelle: Splurge Amerikans! Spend! Eat! Have Fun! Vacation!

http://news.yahoo.com/michelle-obama-splurging-key-life-171642985--polit...

Jeb Bush, John McAnus, and other RINOS push for MOAR ILLEGALS at Davos.

http://www.breitbart.com/Big-Government/2014/04/21/Jeb-Bush-Pushes-Amnes...

Tue, 04/22/2014 - 15:32 | 4683863 Son of Loki
Son of Loki's picture

I'll move back home also if Mrs Robinson still lives next door.

 

[yuk,yuk,yuk....]

Tue, 04/22/2014 - 15:49 | 4683936 giggler321
giggler321's picture

>>more and more people should live with their parents.

Yep, nothing like wiping a 92 year old arse or feeding with a bib your helpless father while he dribbles his food back in your face not knowing your name because of alzheimer's.  Hey I'm just thinking out loud not that I've done it but it's been like that here in the UK for to long now.

Tue, 04/22/2014 - 17:00 | 4684175 daveO
daveO's picture

True, but state run schools and, especially colleges, have brainwashed people beyond repair. They equate debt with wealth. None of my 4 half siblings live in the same state. They've all been divorced(another tool of the state). I'm sure 2 voted for BHO, and wouldn't be surprised if the other 2 did as well. They're full of 'white guilt' and carry more debt than worth. This country is full of idiots who don't even know they're poor!  

Tue, 04/22/2014 - 17:57 | 4684354 MrPalladium
MrPalladium's picture

"They're full of 'white guilt' . ."

The mass death wish of the 20th century. Hopefully it will pass.

Tue, 04/22/2014 - 13:16 | 4683174 zerozulu
zerozulu's picture

I also strongly believe if people can they should get rid of CAR and try to manage with a bicycle. No auto insurance, no gas expanse, no accidents, no repairs, no depreciation and no doctors visits too.

Tue, 04/22/2014 - 13:37 | 4683281 Anusocracy
Anusocracy's picture

Rent a car when you need one.

Tue, 04/22/2014 - 13:23 | 4683207 zerozulu
zerozulu's picture

When you cannot fight with the beast, you can starve it to death.

Tue, 04/22/2014 - 12:40 | 4682992 Blano
Blano's picture

You were a lot more fun to read when you weren't pumping BTC.  Back to mom's basement with you now.

Tue, 04/22/2014 - 14:45 | 4683629 crash commando
crash commando's picture

We've been through this before.  He lives in an attic.

Tue, 04/22/2014 - 12:40 | 4682997 Battleaxe
Battleaxe's picture

The thing you have to ask yourself is: "Is this exhuberance irrational?"

Well.....IS IT PUNK?

Tue, 04/22/2014 - 12:55 | 4683060 fonestar
fonestar's picture

Bitcoin is the rational exuberance!

Just because fonestar is a major douchetard is no reason to not buy Bitcoin!!

Tue, 04/22/2014 - 12:44 | 4683022 813kml
813kml's picture

But then they would lose their street cred in the BTC community.

Tue, 04/22/2014 - 13:43 | 4683317 TheMeatTrapper
TheMeatTrapper's picture

"Bitcoin is the ticket out of their parent's basement!"

And into the attic - like you. 

Tue, 04/22/2014 - 12:38 | 4682982 Oh regional Indian
Oh regional Indian's picture

ouch!!! straight for the twin hangers there sb....

Tue, 04/22/2014 - 13:08 | 4683124 Skateboarder
Skateboarder's picture

Hide and Go Seek --> Getting hammered, losing something, and walking around trying to find it
Tag --> Facebook Picture Upload
Riding bikes --> Filling up a couple of gallons of gas (cuz you can't afford more)
Getting grounded --> Spending a night in jail
Homework --> Job search
Imaginary friends --> Psych meds

Tue, 04/22/2014 - 17:14 | 4684214 Hongcha
Hongcha's picture

Sports Bars ---> adult Chuck E Cheeses.

Tue, 04/22/2014 - 11:59 | 4682809 IBelieveInMagic
IBelieveInMagic's picture

Finally, a good trend! Americans taking care of their elders...

Tue, 04/22/2014 - 12:55 | 4683057 gafgroocK
gafgroocK's picture

 

 

 

Yup, things are getting tough out there, even Michelle's Mother had to move in with the Obamas...

Tue, 04/22/2014 - 13:04 | 4683105 Falconsixone
Falconsixone's picture

That should get him to move out.

Tue, 04/22/2014 - 13:37 | 4683283 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

That should get him to move out.

Of the country for good?

Tue, 04/22/2014 - 14:45 | 4683630 crash commando
crash commando's picture

You have that perfectly backwards.

Tue, 04/22/2014 - 13:05 | 4683112 Wahooo
Wahooo's picture

Nancy Boys.

Tue, 04/22/2014 - 13:50 | 4683349 Freddie
Freddie's picture

California Dreaming California Dreaming - yeh man fU**king EhhhA  (words changed)

Sung by John Phillips of the Mamas and Papa's

Another   Laurel Canyon Military Industrial Complex special intelligence child.

http://www.davesweb.cnchost.com/nwsltr93.html

 

Liberal politcians. Liberal judges allowing open borders has turned CA into a third world country with a dying middle class.

Tue, 04/22/2014 - 14:23 | 4683523 Bananamerican
Bananamerican's picture

uh, ya don't get to be a judge ANYWHERE by being a quote "liberal"

Tue, 04/22/2014 - 17:10 | 4684203 Slave
Slave's picture

Boy the statists really fucked people up by hiding behind the word "liberal".

FYI, in case you didn't know, now it is "progressive".

Tue, 04/22/2014 - 13:04 | 4683109 RafterManFMJ
RafterManFMJ's picture

MOM! WHERE'S THAT FUCKING MEATLOAF!?

Tue, 04/22/2014 - 11:54 | 4682775 onewayticket2
onewayticket2's picture

Because Obama

(and liberalism....eventually, you run out of other people's money to spend)

Tue, 04/22/2014 - 12:28 | 4682940 SmallerGovNow2
SmallerGovNow2's picture

While i agree in general with your comment, republicans are just as good at spending other people's money as the liberals...  we need a return to constitutional principles and that just ain't gonna happen without a complete collapse and a lot of liberty minded individuals to pick up what's left over and fix it...

Tue, 04/22/2014 - 13:40 | 4683293 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Most Republicans are just a slightly more conservative brand of socialist. They campaign "fiscal restraint" but do not practice it. 

Tue, 04/22/2014 - 13:53 | 4683363 Telemakhos
Telemakhos's picture

Republicans are every bit as good at spending other people's money as Democrats: they just choose to spend it on different things and justify that theft with different catchphrases that resonate with a different voter base.  At the end of the month, though, Republicans and Democrats collect the same pay and the same bribes for doing the exact same work, namely for enriching the rich, impoverishing the poor, excluding any middle, and prostituting the American dream.

Tue, 04/22/2014 - 11:55 | 4682786 NotApplicable
NotApplicable's picture

"It's unexpected vulnerability, at this point in your life..."

Funny, I managed to expect all of this disaster, but an actual  "public policy consultant at the Insight Center for Community Economic Development in Los Angeles" has no clue?

While I feel for her, I still stand by the idea that stupid should hurt.

Tue, 04/22/2014 - 12:53 | 4683055 Tortfeasor
Tortfeasor's picture

"Jenny Chung Mejia knows how tough it can be. As a public policy consultant at the Insight Center for Community Economic Development in Los Angeles, she helps people and communities regain their economic health."

And she's doing a bang-up job!

Tue, 04/22/2014 - 11:57 | 4682794 Kaiser Sousa
Kaiser Sousa's picture

and many r willing slaves...

willfully ignorant...

willfuly obedient..

all that is required is to exit their debt based system to the greatest extent possible starting with converting all their disposable debt coupon dollars into real money - Gold and especially grossly undervalued SILVER...

then what would the MoneyChangers have???????

NOTHING.

Tue, 04/22/2014 - 11:58 | 4682806 Freddie
Freddie's picture

Sad stuff. Decent people need to leave that shithole as fast as possible.  I saw this coming years ago in CA.  Decent middle class Americans cannot afford to live there. 

Tue, 04/22/2014 - 12:11 | 4682874 Bill of Rights
Bill of Rights's picture

And yet the Parisites who mooch off of other peoples labor sit by the beach saying " Lifes good isnt it " Jose.

Tue, 04/22/2014 - 13:00 | 4683089 drendebe10
drendebe10's picture

....with govt employed life guards making $100K+ watching over them....

Tue, 04/22/2014 - 11:58 | 4682808 Headbanger
Headbanger's picture

I bet a big part of this problem is these 50 somethings were the people who were buying their way over priced dream house almost 10 years ago when they were still in their 40s and thought they were all set in life. The dream houses turned into a financial nightmare of of foreclosure and they probably lost their nest egg used as down payment.  And I bet there's a lots of used BMWs going for cheap now!

Tue, 04/22/2014 - 14:01 | 4683398 Bastiat
Bastiat's picture

Lots of off-lease BMWs going on boats to China, I'll bet. 

I wish I still had my 55 Ford -- by the looks and price of the Red Flag, I could get $500K for it over there.  Damn.  Not so nice on the inside but hey much better looking.

Tue, 04/22/2014 - 15:04 | 4683737 Headbanger
Headbanger's picture

Wish I had my 66 Goat!

Or even my 87 Grand National.

Fuck, I was so stupid for letting them go.

Tue, 04/22/2014 - 14:24 | 4683524 A Nanny Moose
A Nanny Moose's picture

PSA - A REIT for the downsizing of the Former Untied States of Amerika

Assuming you believe markets still exist. Otherwise, you could buy some land, and fill it with shipping containers. Meh...too many gummint permits.

Tue, 04/22/2014 - 12:29 | 4682945 Bunga Bunga
Bunga Bunga's picture

... but but but the new slavery is not racist.

Tue, 04/22/2014 - 12:31 | 4682957 tradingdaze
tradingdaze's picture

I think the weather causes this. Maybe pipelines to.

Tue, 04/22/2014 - 12:37 | 4682975 Jumbotron
Jumbotron's picture

Hippies thought they'd change the world with free love, drugs and music.  And happy thoughts of peace.

Then those dreams were crushed by reality so they decided to join the system and try to reform it from within as yuppies.  And the others who were so crushed decided to fist fuck the world for their personal gain.

And now.....we have the worst of both worlds.  A Baby Boom fist fucked world on the one hand......aging hippies going back to their parent's basement on the other.

But hey.....they still have their free love via Viagra.....they have their dope legalized now......and their digital hearing aids can still listen to Joni Mitchell through their iPod.....they bought on a maxed out credit card.

Brilliant.

Tue, 04/22/2014 - 16:23 | 4684055 Freddie
Freddie's picture

Hippies?  Oh you mean the sheep led by the children of the MIC/intel elite and founding familes?

http://www.davesweb.cnchost.com/nwsltr93.html

 

TheThe hippies were a MIC invention to derail a real anti-war movement to stop LBJ's war.  The free love stuff also created an exploding market for Indo China narcotics in the USA

Tue, 04/22/2014 - 12:55 | 4683065 drendebe10
drendebe10's picture

All right everyone, standing ovation for the arrogant, narcissitic pathologic lying illegal alien indonesian kenyan muslim sociopathic fudge packer in chief for making this happen for those poor unfortunate baby boomers while it gloriously lives its grand imperial golf life style at peasant and serf tax paying expense....   hoo-ra!!!!

Tue, 04/22/2014 - 13:14 | 4683107 Jumbotron
Jumbotron's picture

Obama....did....not....have....SHIT....to do with this.

Repeat this 100x100,000,000 times while hitting your nuts with a hammer.

We the American Sheeple allowed this to happen without one shot being fired, without one drop of banker and politician blood in 1913 when we allowed our representatives to pass over the reigns of power to the bankers with the passage of the The Federal Reserve Act as well as the Income Tax in the same year.

This has been coming since then.....through successive Republican and Democrat Presidencies and Congresses.  It matters not one fucking bit who is in power.  Republicans suck off the American People through handouts to bankers who debase our currency and enslave us with debt.  Democrats suck off the American People through handouts to other Americans and to bankers who debase our currency and enslave us with debt.

Now.....back to repeating the above statement in black while hitting your nuts with a hammer.

Tue, 04/22/2014 - 14:07 | 4683442 Bastiat
Bastiat's picture

I'm glad I got it the first time.  And you're right of course except Obama's the one standing up there now and telling us none of it is happening and doing NOTHING to change or stop it. There's a price to being a leader:  http://www.youtube.com/watch?v=xR1YEOrYOdw#aid=P-_DcbfyGcc

Tue, 04/22/2014 - 14:40 | 4683603 Jumbotron
Jumbotron's picture

That's right.  All he is doing is parroting George W. Bush......

"If we don't loosen up some money into the system, this sucker could go DOWN ! "

Tue, 04/22/2014 - 13:46 | 4683335 PGR88
PGR88's picture

"...As a public policy consultant at the Insight Center for Community Economic Development in Los Angeles, she helps people and communities regain their economic health...."

WTF is this???

Tue, 04/22/2014 - 14:01 | 4683400 corporatewhore
corporatewhore's picture

what i don't understand is why all of us disenfranchised still listen to the el Rushbo and believe his bullshit

Tue, 04/22/2014 - 23:02 | 4685311 Buck Johnson
Buck Johnson's picture

Bingo, and this plantation is going to be a real nasty one.

Tue, 04/22/2014 - 11:50 | 4682763 i_call_you_my_base
i_call_you_my_base's picture

It's pretty simple. If you fake housing prices up and disassociate them from wages / earnings entirely, no one can afford to buy or even rent.

Tue, 04/22/2014 - 11:54 | 4682776 thamnosma
thamnosma's picture

That is truly the situation in California.  How does a young couple making $50-70K buy into a market with a median price of $300K or more?   It's really becoming feudal here unless one (or one's parents) bought in decades ago and can afford sideways moves.  The Chinese are flocking in though.

Tue, 04/22/2014 - 11:55 | 4682789 i_call_you_my_base
i_call_you_my_base's picture

Same here in the NE. $400K minimum...or you can live in the ghetto.

Tue, 04/22/2014 - 12:11 | 4682869 Old Man River
Old Man River's picture

Look on the bright side: at least in our ghettos you get DirecTV, AC, refridgerator, clean water, etc. 

Tue, 04/22/2014 - 12:14 | 4682885 Bill of Rights
Bill of Rights's picture

Don't forget the free phones Subsidize Gas, and Electric bills....

Tue, 04/22/2014 - 12:16 | 4682892 pods
pods's picture

And B&Es, muggings and gunshots at all hours.

Paradise.

pods

Tue, 04/22/2014 - 12:38 | 4682981 Jumbotron
Jumbotron's picture

That's why they can only afford the ghetto.

Tue, 04/22/2014 - 12:04 | 4682825 zaphod
zaphod's picture

Median price of $300K? Here around SF the median price in anywhere decent is closer to $1M, and the schools still are so bad that most people shell out an extra $20K/yr per kid to send them to private school. There is simply no way to be middle class and have more than 1 or maybe 2 kids. For the next generation it's just very well off or not, this is the opposite of what America is suppose to be and what it was for a long time. Me and my wife are just counting the days until we can leave and go just about anywhere else.

Tue, 04/22/2014 - 12:23 | 4682918 thamnosma
thamnosma's picture

I intentionally left out those markets (Silicon Valley, Santa Monica, San Diego hot areas).  Median on the Central Coast is likely $400K -- and what you get for $250-400K is a total joke.   On the other hand, in the dead sprawl of places like the high desert and "Inland Empire" of SoCal, it's probably "affordable", but this is a vast wasteland of foreclosures, no jobs, gangs, requiring long commutes to any potential employment.  These were the expansion areas of the great bubble -- now rotting sprawl.

Tue, 04/22/2014 - 13:26 | 4683213 Almost Solvent
Almost Solvent's picture

Detail and superior craftsmanship characterize this amazing 4000+ SF, 4+ bedroom, 3.5 bath custom traditional home sited beautifully on a .67 acre wooded lot in Eagle Heights West, one of Orchard Park's most sought after neighborhoods. High-end finishes, including cherry cabinets and mantel, stone accents, and granite counters are found throughout. The stone and cedar exterior highlights the many architectural details. 

Only $600k!

Have to move to WNY, but the summers are nice and no drought!

 

http://www.zillow.com/homedetails/15-Hampton-Ct-Orchard-Park-NY-14127/30...

Tue, 04/22/2014 - 13:31 | 4683243 Blankenstein
Blankenstein's picture

Totally overpriced.  It sold for $380,000 in 2004.

Tue, 04/22/2014 - 13:27 | 4683220 Blankenstein
Blankenstein's picture

Try to tell people that the prices are too high and unsustainable and be prepared to be ridiculed.  If you contradict what a realtor or the boob tube told them, you are a crazy.

Tue, 04/22/2014 - 15:36 | 4683882 br0ken
br0ken's picture

This man speaks the truth. I did exactly as he says. I make roughly 85k a year, and bought into a home at 350k.

How do I make it work? It aint easy son. I have a prepaid cell for emergencies, use Magic Jack for phone service, pay only for Internet service (no cable TV / satellite - we use local off air for TV) and have done my best to cut our energy costs (And yet still, I manage to have 180-200 dollar electricity bills a month), water and other utility costs. 

Well that and I got a great interest rate (3.275 fixed 30 year VA). 

And I barely make it work. 

Tue, 04/22/2014 - 11:52 | 4682764 JustObserving
JustObserving's picture

They can't afford the 3% down payment?

Tue, 04/22/2014 - 11:52 | 4682767 i_call_you_my_base
i_call_you_my_base's picture

They can't afford the $2K mortgage payment to get a shithole that needs $100K in repairs.

Tue, 04/22/2014 - 11:53 | 4682769 Latina Lover
Latina Lover's picture

Re: 3% downpayment:

 

You mean we didn't steal it all? We have more work to do.

Signed Wall Street

Tue, 04/22/2014 - 11:52 | 4682765 TheMeatTrapper
TheMeatTrapper's picture

Couple of sad looking old hippies there. Wonder how the Black Jesus they worship is working out for them?

 

Bummer dude. 

Tue, 04/22/2014 - 11:53 | 4682772 pods
pods's picture

The banksters are trying to squeeze every last drop of blood from this stone.

It is not going to get any better either.  Slow grind down into muppet dust.

pods

Tue, 04/22/2014 - 11:53 | 4682773 Rainman
Rainman's picture

Freedom's just another word for nothin left to lose ....

Tue, 04/22/2014 - 14:07 | 4683440 eddymunster
eddymunster's picture

Justice Is Lost
Justice Is Raped
Justice Is Gone
Pulling Your Strings
Justice Is Done
Seeking No Truth
Winning Is All
Find it So Grim
So True
So Real

Tue, 04/22/2014 - 16:40 | 4684108 Freddie
Freddie's picture

http://www.davesweb.cnchost.com/nwsltr93.html

Another one murdered at the base or in Laurel Canyon.   The MIC-intel hangout.  Janis hotel was close to the base of Laurel.

Tue, 04/22/2014 - 11:54 | 4682778 replaceme
replaceme's picture

There will come a day where people will look at this period, ongoing period, and call it a depression.  I don't know what it will take, maybe a major network going dark, putting a lot of pissed out news folk on the street to tell the tale. 

Tue, 04/22/2014 - 11:57 | 4682797 NotApplicable
NotApplicable's picture

People aren't that smart anymore. To them, everything looks like pure chaos.

Tue, 04/22/2014 - 12:49 | 4682841 thamnosma
thamnosma's picture

The EBT cards continue to hide what would otherwise be long bread lines and daily riots.   I live in Southern California and can tell you that large swaths of central and south Los Angeles are populated by hundreds of thousands of marginalized humans, with nothing to do, zero prospects and really not enough intelligence to work at high skilled jobs, such as IT.  

Last year there were a couple of bank robbers on one of those televised police chases through the blandless that is the core of LA.  To foil the cops they started tossing money out of their car.  Crowds of blacks and latinos began pouring out of apartment buildings -- the demographics being mostly young and working age males.   As the chase continued, crowds lined up in advance of where the getaway car was going by watching the chase on TV. 

At the end of the chase it wasn't the fleeing felons who became the main concern of the authorities but the crowd of THOUSANDS who not only wanted a chance at free money but started to turn on the police as they attempted to arrest the robbers.   Riot squads and swat teams were called in to quell the disturbance.

This society is being held together with Federal glue.  It will not take much to break the bottle.  If one is able and smart, one does NOT want to live in central American urban zones.  You really don't.

Tue, 04/22/2014 - 18:19 | 4684405 NihilistZero
NihilistZero's picture

...marginalized humans, with nothing to do, zero prospects and really not enough intelligence to work at high skilled jobs, such as IT.

And there in lies the rub that the libertards don't understand.  In a "capitalist" system where the force of .gov can be used to preserve monopolies, patents, break down trade barriers, etc, you better well use it to provide the proles some level of dignity and mobility.  The masses have been getting the shaft for over 30 years through free trade and monetary debasement.

If QE had been used to fund a negative income tax job creation and consumption could have increased exponentially.  But as we know only the wealthy may partake of the REAL safety net, the one that preserves their power everytime.  If TPTB aren't careful it may actually be diffrent this time...

Tue, 04/22/2014 - 12:09 | 4682864 Ariadne
Ariadne's picture

Good. Restore family values, form a gang, take on the bloodlines.

Tue, 04/22/2014 - 17:18 | 4684224 OneEyedJack
OneEyedJack's picture

 

There will come a day where people will look at this period, ongoing period, and call it a depression.

No..... there will come a day where people look at this period and call it..

The good ole days

 

fixed it for ya

Tue, 04/22/2014 - 11:54 | 4682779 toady
toady's picture

It's simple, gotta share housing to survive. The wife is already planning on our boys to live with us forever. It's going to be like the third world, three to four generations under one roof.

Tue, 04/22/2014 - 12:20 | 4682909 Mrmojorisin515
Mrmojorisin515's picture

The third world, or just regressing a hundred years.  Hell less then that, my father grew up in his grandfathers house until the age of five or six.  Now lets talk about the real elephent in the room, the fact that with usage of oil the past 100 years the earths population has gone from a billion to 8 or so.  As oil continues to get more and more expensive, what do you think is going to happen to this "inflated" population?

Tue, 04/22/2014 - 13:50 | 4683350 Totentänzerlied
Totentänzerlied's picture

That's a multi-way street. Multigeneration homes means everyone pitches in to the best of their ability for the duration of their lives.

I would not want to be the sucker sent out to sell that to any Americans alive today. I would not be able to withstand the endless torrent of the F word - fair. As in, "that's not fair!" - not in the minds of generations of people who've been raised to believe and feel that one or two generation single-family housing is basically a human right, as are 40 hour caps on work weeks, TV dinners and take-out, paid vacations, daycare and childcare, government schooling 5 days a week for the kids, and retirement at or before 65. That last one is gonna be a problem, because with mom and dad working, childcare falls to grandma and grandpa - and "fair" ain't got nothing to do with it.

Americans can't even keep their one-generation households together to save their lives, the only word to describe a transition back to multigeneration households is "ugly" - remember, there's no divorcing your kin. Oh and there won't be essentially free licit psychoactive drugs, so those pesky things called "emotions" will be making a return.

Tue, 04/22/2014 - 11:56 | 4682791 Old Man River
Old Man River's picture

Just like my cousin Vito (aged 26) over in Italy. Lived at home, got married and the wife moved in with the rest of his familia. The room that they are adding on to the existing home will be completed in a few years. I think they have 10 folks living in 1100 sq ft. Lotta love there.

Tue, 04/22/2014 - 12:34 | 4682965 Bangin7GramRocks
Bangin7GramRocks's picture

Vito must have a 12 inch cock!

Tue, 04/22/2014 - 13:06 | 4683114 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Or the Mrs. came from a home with more than 10 people.

Tue, 04/22/2014 - 11:57 | 4682799 Seasmoke
Seasmoke's picture

No problem , if Ackman is your daddy. 

Tue, 04/22/2014 - 11:58 | 4682801 derek_vineyard
derek_vineyard's picture

worse, yet, is all the ex-girlfriends that need a place to stay

Tue, 04/22/2014 - 12:00 | 4682802 Ghordius
Ghordius's picture

regarding context ""About half of all Italians between 24 and 35 still live with their parents, compared with 14% in the U.S.""

be very, very careful when comparing "home statistics" of Southern eurocountries like Spain, Portugal or Italy with the US

in the 80's, for example, there was this interesting Italian statistic: "80% of all Italian men live less than 1 kilometer (1'000 yards) from their mother" (which meant that most lived at Hotel Mother or in a semi-detached greater family financed arrangement therof)

on the other side, homeownership without mortgage was the norm, in all those places, and it's still very, very high in every international comparison, not a paltry 20%-25% as in the US

Tue, 04/22/2014 - 12:09 | 4682861 Cangaroo.TNT
Cangaroo.TNT's picture

I keep telling my daughter that when she gets older she can grow a mustache so she can look like her nonna.

Tue, 04/22/2014 - 12:00 | 4682803 Dr. Engali
Dr. Engali's picture

Hmmm, so I guess that live free and got to have it all YOLO lifestyle is coming to bite the hippies in the asses. Keep voting for more communist policies and letting your banker owned 'representatives' get away with what they want so long as they are your guy in power. I'm sure it will get better for you.

Tue, 04/22/2014 - 12:00 | 4682815 fonzannoon
fonzannoon's picture

when will we get to the fun part of Cloward/Piven where we vote ourselves 5k a month stipends?

Tue, 04/22/2014 - 12:07 | 4682850 Dr. Engali
Dr. Engali's picture

5K? You need to set your dreams higher my friend. I'm voting for the guy who offers $100k and a free unlimited data plan for my Obamaphone.

Tue, 04/22/2014 - 11:59 | 4682811 PlusTic
PlusTic's picture

it will never end without the use of violence...it's the only way to stop these criminals...otherwise, it's a slow grind to the bottom

Tue, 04/22/2014 - 12:02 | 4682826 earnyermoney
earnyermoney's picture

Amazing.

 

Not one FU Yellen, Bernanke or the FED.

I wonder if I'll ever see FED Board members meeting the fate of those Red Flag street enforcers?

Tue, 04/22/2014 - 12:08 | 4682858 pods
pods's picture

Everyone gets tired.

 

Tue, 04/22/2014 - 12:03 | 4682832 Cannon Fodder
Cannon Fodder's picture

Something has changed....

This weekend I was in the house that many decades ago was bought by a married couple - both teachers.

Very nice suburban house in a nice part of town. Bought on two teachers salaries.

Today that house is worth so much that it takes two very well paid people to afford (ie each making $75k-100k).

There is no way two teachers today could afford it let alone a single income person or couple.

Tue, 04/22/2014 - 12:05 | 4682835 arby63
arby63's picture

It would be interesting to know how many times CNBC uses the word "HOPE" in a headline or article.

Tue, 04/22/2014 - 12:09 | 4682848 MFL8240
MFL8240's picture

Wait until these bastards allow immigarants to take the rest of the jobs in liberal California?  Fuck these people, they voted this shit into office and they can now live with their mistake.

Tue, 04/22/2014 - 12:08 | 4682855 Sudden Debt
Sudden Debt's picture

honestly.... I'd rob a bank and go to jail if need be.
Jeez... that's just palin sad!
How is it possible 2 adult failed so long? I mean, living witht heir parents at age 50?!?!??!?!?!?!
I'd rather die than to do that!

Tue, 04/22/2014 - 12:20 | 4682910 Quus Ant
Quus Ant's picture

Age 50 is about the time you need to start taking care of your parents- unless they're destined for the open jaws of a nursing home- so does it matter who moves in with whom?

Tue, 04/22/2014 - 12:40 | 4682999 toady
toady's picture

Believe it or not, it's the norm in most of the world. My wife's brothers, 3 of them, all in their 40s & 50s, live within a couple miles of their mommy and eat breakfast, lunch & dinner at her house.

On the other hand, I knew a guy back in the 80's that broke a jewelry store window to get 30 days in the hole, some new glasses, and 2 root canals.

So it works both ways.

Tue, 04/22/2014 - 12:08 | 4682860 JuliaS
JuliaS's picture

Why's the assumption that parents are better off than the kids, that they have places to live etc.

My mother has just lost her job, so she's going to be moving in with me - not other way aroun, and I already have been supporting 2 other family members on my salary for the last 5 years, not because they're freeloaders, but because the economy is still in the gutter. Wherever the recovery happenned, I didn't notice it. Had to go through a layoff myself following the crisis, but got back on my feet.

Boomerang kids? How about boomerang parents?!

Tue, 04/22/2014 - 12:12 | 4682876 thamnosma
thamnosma's picture

It's definitely both directions.  Boils down to families moving back in together out of necessity.

Tue, 04/22/2014 - 12:12 | 4682865 TrumpXVI
TrumpXVI's picture

The above isn't the whole article that is posted on Drudge.

The whole article is even better.  

It tells the story of one couple w/two boys who moved in with mom, except......dad had to sleep in the car!!!!! because mom wouldn't provide a roof for an unemployed adult man who failed to support his fam.  His mother-in-law wouldn't even let him use the bathroom!!  So, it wasn't until after dad got a part time job that he was finally allowed into the house.

Brutal.

But you know what?  I actually understand this old woman's rationale and I can't say that I entirely disagree with it!

Tue, 04/22/2014 - 12:24 | 4682924 Caveman93
Caveman93's picture

This "lifestyle" is the norm and has been the norm in many other countries. In Iran (Persia), because of all the sanctions, many homes are 3 generations under one roof. We had better get used to the idea that a strong family unit is of the highest importance or survival be damned. If I, my wife, my daughter, brothers, sisters, in-laws et al fall onto hard times, they are always welcome to stay regardless of circumstance. Strong families will be forged from this mess...TV's will be off and serious dinner conversations will replace our distractions. Maybe, this is what we need to fix this fucking mess.

Tue, 04/22/2014 - 12:45 | 4683026 TheMeatTrapper
TheMeatTrapper's picture

Amen Caveman. Amen. 

These days families can't get along, much less neighbors. Back in the old days if men and women couldn't learn to live together - they died out. 

Tue, 04/22/2014 - 12:54 | 4683052 TrumpXVI
TrumpXVI's picture

You know what?  I agree with you.  What's happening is part of the solution more than being part of the problem.  But the people invloved don't understand this at this point, very few people do understand it and that will cause a lot of trauma.

We need bigger, tighter families communicating with each other using face to face, non-electronic, non-surveillable communications.  Families who depend on their organic members instead of the banks.  All of this is part of what it will take to cut big government and big finance out of our lives and our communities.

Tue, 04/22/2014 - 12:10 | 4682867 lordbyroniv
lordbyroniv's picture

Whatever man....seems Americans love anal sex.

Tue, 04/22/2014 - 12:46 | 4683007 Bangin7GramRocks
Bangin7GramRocks's picture

The policies that this country has supported for the past 30 years suggest that Americans like it in the mouth and the ass at the same time! Hey, let's get rid of all the unions. And let's buy every cheap fucking thing from Walmart. Hey, let's vote for people that don't have our economic interests in mind because they might be "pro-life".
In the ass indeed, sans lube!

Tue, 04/22/2014 - 12:14 | 4682884 overmedicatedun...
overmedicatedundersexed's picture

large extended family living together, not ideal for the self love generations..but perhaps what we all will need in the new Amerika, after all sharing limited resources is easier with family, No? the facts are people are already moving quickly to this new norm.

Tue, 04/22/2014 - 12:19 | 4682895 Dre4dwolf
Dre4dwolf's picture

Its pretty much this

If you are young, chances are you need to live at home with your parents because its too expensive to move out and pay complete seperate utilities/grocceries/rent/mortgage.

If you are old, chances are you will have to move in with your kids to save money assuming your kids are well off enough and successful.

Everyone else is either rich as fuck, or living under a bridge/thinking about where they can move after abandoning their house to the bank.

 

Since such a small portion of the public is rich as fuck, I would assume the majority are in position A B or about to be under a bridge.

The banks have broken the spine of the economy, and the government has taken out both ankles, all so that a few at the top can have fun pillaging with the powers of the BLM / IRS/ Federal Reserve , all while other nations are plotting how to take us over since our nation has become a complete joke.

The Russians and Chinese smell blood in the water, they know we can not last in any sort of sustained battle with them, look how many trillions it took us to take down a handful of people hiding in caves!

DO YOU KNOW THAT WE PROBABLY SPENT MORE ON THE WAR ON TERROR THAN BOTH WORLD WARS COMBINED?

IT TOOK MORE MONEY TO TAKE DOWN A BUNCH OF CLOWNS HIDING IN CAVES THAN IT DID TO TAKE DOWN HITLER AND JAPAN.

What chance does this country face in a "real war" with china and russia? with that kind of efficiency?

None, absolutely NO CHANCE.

We have in the past decades witnessed the complete deterioration of ROME, we are all living in a failed empire RIGHT NOW, its just taking a while for the collapse to come to complete fruition in the minds of the majority, people of rome still thought rome existed for almost a DECADE after it completely collapsed, the population of rome went down drastically, the birth rate fell, we are seeing the same exact patterns rome went through right after its collapse....there is no difference.

People should be preparing, its pretty much end-game time around the corner.... the sharks will come its only a matter of time.

 

Tue, 04/22/2014 - 12:36 | 4682972 reader2010
reader2010's picture

In a facist setup, war is used as a wealth transfer vehicle to make the rich even richer, the powerful even more powerful. The goal is to start warz that will never end.

Tue, 04/22/2014 - 13:18 | 4683180 sethstorm
sethstorm's picture

What chance does this country face in a "real war" with china and russia?

A very good chance of winning, despite your anti-US bent.

Tue, 04/22/2014 - 12:18 | 4682897 youngman
youngman's picture

My parents died when I was Young...what do I do?????

 

Tue, 04/22/2014 - 12:22 | 4682915 Dr. Engali
Dr. Engali's picture

Sorry to hear that. I'm sure Obama will take care of you. Maybe he can supply you with a tent in one if his new cities. Obamavilles are popping up everywhere.

Tue, 04/22/2014 - 12:27 | 4682936 Caveman93
Caveman93's picture

I am sorry. My folks passed on early as well. You learn to survive with close friends. They become your family and you become theirs. 

Tue, 04/22/2014 - 13:17 | 4683103 TrumpXVI
TrumpXVI's picture

Friends are the family you choose for yourself...remember that....and choose wisely.

Tue, 04/22/2014 - 12:43 | 4683018 Bangin7GramRocks
Bangin7GramRocks's picture

Become a banker.....?

Tue, 04/22/2014 - 14:52 | 4683670 813kml
813kml's picture

Move in with them?

Tue, 04/22/2014 - 12:25 | 4682919 Emergency Ward
Emergency Ward's picture

"Mom, I know you are mad at me and you feel bad because I won't move out.  Go make us some nachos so we can feel better -- l like a lotta cheese and jalapenos."

from one of those TV shows.

Tue, 04/22/2014 - 12:45 | 4683025 Bangin7GramRocks
Bangin7GramRocks's picture

Mom! Can we get some meatloaf! Fuck!

Tue, 04/22/2014 - 12:57 | 4683075 Puncher75
Puncher75's picture

Now THAT is funny!

Tue, 04/22/2014 - 12:27 | 4682939 STG5IVE
STG5IVE's picture

"NORMAN?  NORMAN!  Come to Mother dear Norman. "

Tue, 04/22/2014 - 12:29 | 4682942 reader2010
reader2010's picture

“The nine-to-five is one of the greatest atrocities sprung upon mankind. You give your life away to a function that doesn’t interest you. This situation so repelled me that I was driven to drink, starvation, and mad females, simply as an alternative.”

—Charles Bukowski, Sunlight Here I Am: Interviews & Encounters 1963-1993

Tue, 04/22/2014 - 13:16 | 4683171 sethstorm
sethstorm's picture

Sounds like a person that never had a good job.

Tue, 04/22/2014 - 14:35 | 4683576 TheMerryPrankster
TheMerryPrankster's picture

He worked for the post office and became an acclaimed writer. What have you done lately?

Tue, 04/22/2014 - 12:30 | 4682948 Bill of Rights
Bill of Rights's picture

Cambodians do this all the time. 10 / 15 to a house and all take a room. What you and I think of as a Family room and or Living room to them is another bedroom and all pitch in and pay the bills. Nice way to stack a nice bundle of cash on a PT job and when you think you have enough saved move on.

Tue, 04/22/2014 - 12:31 | 4682955 Sambo
Sambo's picture

When past memories fade, people may actually begin to enjoy the present ...with or without parents.

Tue, 04/22/2014 - 12:37 | 4682976 SMC
SMC's picture

And when there is a problem, only a fool dials 911...

"An elderly Missouri man dialed 911 and asked for an ambulance to come and help his ailing wife. Instead, the police showed up, threw him to the ground, sat on his head and handcuffed him."

http://o.dailycaller.com/all/2014-04-21-elderly-man-calls-for-ambulance-...

Tue, 04/22/2014 - 12:37 | 4682978 Sambo
Sambo's picture

Is Bernanke part of the statistics?

Tue, 04/22/2014 - 12:39 | 4682991 Carl Popper
Carl Popper's picture

Personally I find the return to multigenerational families a good thing, along with lowered consumption ofgoods and services.

 

The beast may try to enslave or starve us.  We can starve it first by refusing to spend.

Tue, 04/22/2014 - 12:56 | 4683062 khakuda
khakuda's picture

Expect more of it as we become like Europe.  Some of the highest taxes in the country coupled with some of the highest real estate prices and a high degree of socialism = UNAFFORDABLE.

 It's a great way to help starve the government of real estate tax revenues.

Tue, 04/22/2014 - 12:55 | 4683064 q99x2
q99x2's picture

UCLA center smenter. I'm not moving in to live with my parents, I'm going to move into UCLA.

FALL 2014 Here I come.

YeeeeeHaaaaaa.

Tue, 04/22/2014 - 12:56 | 4683066 Puncher75
Puncher75's picture

Welcome to the progressive Utopia.  Be sure to check your self respect and individuality at the door. (your childhood bedroom door, that is)

Tue, 04/22/2014 - 16:32 | 4684077 zipit
zipit's picture

Lock it before you wank.  And bury your happy sock deep in the hamper.

Tue, 04/22/2014 - 12:59 | 4683071 foodstampbarry
foodstampbarry's picture

Saw this shit coming 5 years ago and got a vasectomy. NO way am I bringing anyone into this shithole.  Hunger games not far off.

Tue, 04/22/2014 - 13:03 | 4683072 FreeNewEnergy
FreeNewEnergy's picture

This may sound weird, but, I'm glad my parents died in 2005 (mom) and 2009 (dad), so they wouldn't have to live through this shit. They brought up three of us and we all did OK. I am living in their (and my) former home and loving it, sticking it to the bank every day, rain or shine.

Fuck Bernanke, Yellen, Oblahblah, Dimon, Blankfiend, and the rest of the oligarchs and worthless politicians (special mention for senator *sellout* Schumer). May they all die horrible, painful deaths and suffer for eternity. I hope there is a hell, just so they can go there, the bastards.

As for the forlorn couple on the bed in the article, she needs to lose some weight and he needs a shave. Maybe then he might get a job. Otherwise, they need to learn how to fend for themselves, on the streets, doing work off the books, in the otherwise thriving underground economy. Fucking lazy, worthless nation we've become.

I'm not the brightest or the most motivated person in the world, but I am, at 60, still able to provide for myself through a variety of means. Plus, I'm a nasty MF when it comes to banks, utility companies and government types. Take no shit, no prisoners and get paid in cash.

Get off your lazy asses and kick some butt, Americans. We shouldn't be taking this lying down, but so many are. Makes me sick.

I just wonder how many of these sorry-assed fucktards ever think of doing something constructive with all their free time, like starting a garden in mom and dad's back yard, or just making some side money, under the table-like. My dad always said, "opportunity is always knocking, if you're ready to answer the door." Most people are not self starters. They need a J-O-B, and thus render themselves into slavery, wittingly, willingly.  I have no pity for them.

Tue, 04/22/2014 - 13:14 | 4683166 sethstorm
sethstorm's picture

The problem is that going "under the table" only serves to make things worse.

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