Comments on: You Want the Economy Explained

By: Mikey from NJ

Mikey from NJ — Wed, 11 Mar 2009 18:55:44 +0000

Marcus,

Seeing that we grew up together in the same town (mostly), I, too have the same notions. Owning a house is a part of the American Dream, etc…but I still kind of feel that way. I just wonder WHY we can’t all afford homes.

Is it because houses just cost too much or is it because we make too little?

I would have to think that houses cost a lot because it’s a great place to live…..but then the salaries should go up as well. they have and they have, but not in equal shares.

I think the root problem not enough people are talking about is that we make less now in adjusted dollars than we did 30 years ago. Why is it that a one job family did ok in the 60’s and 70’s, but in the 80’s you NEEDED 2 incomes? Now it is almost insane to think 1 person could stay at home (permanently). And yet, we STILL can’t afford a home.

What is the root cause of this problem? It started WAY before Obama took over and even before Bush.

All I can see to lay the blame on is the disparity between the highest paid and the lowest paid. What can be done to fix this?

By: bicyclemark

bicyclemark — Sat, 07 Mar 2009 23:30:25 +0000

but emm.. the good news is now youve got plenty of room for when I come visit .. eh eh? ya.

By: Brian

Brian — Sat, 07 Mar 2009 23:01:42 +0000

I didn’t buy a house until I was 33 years old, and for years people couldn’t understand why I was still renting. I never had the money to buy a house, but once I was able to finally get something, I never understood the big deal. Yeah, I get more taxes back now, but the amount of mortgage I now pay each month kind of makes that a useless “plus.” And in almost four years, it’s now worth less than what I paid for it. Yeah, American Dream…

By: Leanne

Leanne — Sat, 07 Mar 2009 00:43:34 +0000

This was a good show. They really made it understandable. Also thought it was fitting that the last part was about buying real estate in Wayne. Think about all the home that have been built there in the last 10 years. They’re still building on Route 46.

I think renting is essential to a solid economy. In my current situation, my rent is supporting my landlord’s ability to live an independent life. They are an elderly couple, in their 70’s, and the rent they get from me and my neighbor helps them stay in this area. The property taxes are $10,000+ a year, so they need the money. Sure I don’t own anything, but at least my money can go to worthy people who need it.