No. of Recommendations: 2
"Traditionally, first-time homebuyers were in their late 20s or early 30s. But the climb to the age of 40 reflects larger pressures: higher home prices and steep mortgage rates."
Add in five figure student loan balances, because states don't subsidize higher education, the way they did 50 years ago. Add that most Proles need to dig into their own pockets to fund their 401k, because the "JCs" took away the company paid pensions that were the norm 50 years ago. Add that home builders don't want to build the sort of 1000-1200sqft houses that a lot of we boomers grew up in, because McMansions double or triple the size are much more profitable.
Rant #37: the program is to take from the Proles, and give to the "JCs". Now, after 40 years of the program, there is a lot of hand wringing about Proles not being able to afford anything, but I don't see any "JCs" itching to turn the clock back 50 years.
Steve
