lol at nearly the same. the plot shows 8-10% drop since 2005.
How can anyone say the economy is good when mass layoffs are going on
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I explicitly said before 2020.
Being the same proportion of income and there being a nearly 10% drop in homeownership by that age cohort since 2005 suggests filtering of lower income people out of homeownership. Same proportion of income is not informative on its own.
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I explicitly said before 2020.
Being the same proportion of income and there being a nearly 10% drop in homeownership by that age cohort since 2005 suggests filtering of lower income people out of homeownership. Same proportion of income is not informative on its own.
2005 was in the middle of a (obviously in retrospect extremely misguided) attempt to the standards to get a mortgage to practically nothing.
You can interpret these numbers different ways
https://www.census.gov/housing/hvs/data/charts/fig07.pdfTo me, that looks like a bubble, then a financial crisis induced hangover, then a return to basically a steady state. What it clearly is not is some generational collapse in homeownership.
Which again, should not be surprising. People are confused on this because they look at headline prices, but put a 12% mortgage into an calculator and see what it does to affordability
https://fred.stlouisfed.org/series/MORTGAGE30US -
So let me understand this. If a bunch of people decide -- maybe with the help of Covid -- to retire early, then we're supposed to think they're worse off then if they're working? What happened to revealed preference? If you want to make the argument that they're aren't good enough jobs, fine. But I see small manufacturing wanted signs in many places in the Midwest. Those aren't good enough? Then I don't have any sympathy.
If people want to drop out of the LF because they have enough to retire on, or they feel put upon because Trump is no longer president, I'm not going to count that as "bad." What if society were totally automated and only 50% of people worked. Would that also be bad?
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So let me understand this. If a bunch of people decide -- maybe with the help of Covid -- to retire early, then we're supposed to think they're worse off then if they're working? What happened to revealed preference? If you want to make the argument that they're aren't good enough jobs, fine. But I see small manufacturing wanted signs in many places in the Midwest. Those aren't good enough? Then I don't have any sympathy.
If people want to drop out of the LF because they have enough to retire on, or they feel put upon because Trump is no longer president, I'm not going to count that as "bad." What if society were totally automated and only 50% of people worked. Would that also be bad?The people that are retiring early (mostly b00mers) are doing so off massively inflated asset values due to Fed stimulus (balance sheet > $9 trillion) and are sucking up more than their 'fair share' of economic productivity while younger families struggle.