There is new data showing that the new typical home buyer in America is much older. When in 2005 the typical buyer was between 35 and 40, the typical buyer today is now closer to 40 or 45 (and older in some regions of the country). What this signifies is the pent up demand of young buyers never materialized because of high student debt and stagnant incomes: The typical home buyer is now a lot older than just a decade ago: Recent buyer and seller data shows an older population purchasing real estate across the country. We also see this taking a hit with housing starts. (A decade ago housing starts were at 2.2 million a year, and today they are at 1.2 million.) This is the case with a growing population as well. – B.H.
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SurvivalBlog reader JBG sent in this link to Breitbart where you can have a large order of McDonalds french fries in Venezuela for only 800 bolivares (~$133 USD at the “official” exchange rate.)
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Items from Mr. Econocobas:
Congress Proposes A Chilling Resolution On Social Security – Like most of our problems, the answers are painful and there is no easy way out. As usually, the government has promised more than it could deliver and stolen money on top of that.
Video: Congressman to Yellen ‘God Wants You to Hold Off Rate Hike’ – Don’t even know what to say here, other than “WOW!”. I have now heard all the reasons possible as to why this government doesn’t want to raise rates, despite jaw boning that it will…