Homeownership Rate Falls To The Lowest Level In 19 Years

Housing Recovery? Homeownership Rate Has Fallen To The Lowest Level In 19 Years – Global Research

We just learned that the homeownership rate in the United States has fallen to the lowest level in 19 years. But of course this is not a new trend. As you will see in this article, the homeownership rate in the United States has been in a continual decline for more than 7 years. Obviously this is not a sign of a healthy economy. Traditionally, homeownership has been one of the key indicators that you belong to the middle class. When people define “the American Dream”, it is usually one of the first things mentioned. So if the percentage of Americans that own a home has been steadily going down for 7 years in a row, what does that tell us about the health of the middle class in this country?

The chart that you are about to view is clear evidence that we are in the midst of a long-term economic decline. It shows what has happened to the homeownership rate in the U.S. since the year 2000, and as you can see it has been collapsing since the peak of the housing market back in 2007. Does this look like a housing recovery to you?…

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So many people get caught up in what is happening on Wall Street, but this is the “real economy” that affects people on a day to day basis.

Most Americans just want to be able to buy a home and provide a solid middle class living for their families.

The fact that the percentage of people that are able to achieve this “American Dream” is falling rapidly is very troubling.

There are some that blame this stunning decline in the homeownership rate on the Millennials.

And without a doubt, they are a significant part of the story. They are moving back home with their parents at record rates, and many that are striking out on their own are renting apartments in the big cities.

This is one area where the decline of marriage in America is really hitting the economy. Back in 1968, well over 50 percent of Americans in the 18 to 31-year-old age bracket were already married and living on their own. Today, that number is below 25 percent.

But that is not all there is to this story.

In fact, the homeownership rate for Americans in the 35 to 44-year-old age bracket has been falling even faster than it has for Millennials…

In the first quarter of 2008, nearly 67% of people aged 35-44 owned homes. Now the number is barely above 59%. The percentage of people under 35 owning homes only fell five percentage points, to 36% from 41%.

So why is this happening?

Well, it is fairly simple actually.

In order to buy homes, people need to have good jobs. And at this point, the percentage of Americans that are employed is still about where it was during the depths of the last recession.

In addition, wages in the United States have stagnated and the quality of our jobs continues to go down. As I wrote about the other day, half of all American workers make less than $28,031 a year. Needless to say, if you make less than $28,031 a year, you are going to have a really hard time getting approved for a home loan or making mortgage payments.

Things have been changing for a long time in this country, and not for the better. Our economic problems have taken decades to develop, and the underlying causes of these problems is still not being addressed.

Meanwhile, middle class families continue to suffer. One very surprising new survey discovered that more than half of all Americans now consider themselves to be “lower-middle class or working class with low economic security”. While Wall Street has been celebrating in recent years, economic pessimism has become deeply ingrained on Main Street…

Optimism may be harder to come by these days. More than half of Americans surveyed in a Harris poll released Tuesday identified themselves as being lower-middle class or working class with low economic security. And 75 percent said they’re being held back financially by roadblocks like the cost of housing (24 percent), health care (21 percent) and credit-card debt (20 percent).

And that’s not the kicker.

“The most disappointing aspect is that 45 percent think they’ll never get their finances back to where they were before the financial crisis,” said Ken Rees, CEO of the Elevate credit service company, which commissioned the survey. “And a third are losing sleep over it.”

The only “recovery” that we have experienced since the last recession has been a temporary recovery on Wall Street.

For the rest of the country, our long-term economic decline has continued.

When I was growing up, my father was serving in the U.S. Navy and we lived in a fairly typical middle class neighborhood. Everyone that I went to school with lived in a nice home and I never heard of any parent struggling to find work. Of course life was not perfect, but it seemed to me like living a middle class lifestyle was “normal” for most people.

How times have changed since then.

Today, it seems like we are all part of a giant reality show where people are constantly being removed from the middle class and everyone is wondering who will be next.

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Obamacare Alert: Health Premiums Skyrocket By As Much As 78 Percent

Obamacare Sends Health Premiums Skyrocketing By As Much As 78 Percent – Washinton Times

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The Affordable Care Act was supposed to make health care more affordable, but a newly released study of insurance policies before and after Obamacare shows that average premiums have skyrocketed, for some groups by as much as 78 percent.

Average insurance premiums in the sought-after 23-year-old demographic rose most dramatically, with men in that age group seeing an average 78.2 percent price increase before factoring in government subsidies, and women having their premiums rise 44.9 percent, according to a report by HealthPocket scheduled for release Wednesday.

The study, which was shared Tuesday with The Washington Times, examined average health insurance premiums before the implementation of Obamacare in 2013 and then afterward in 2014. The research focused on people of three ages – 23, 30 and 63 – using data for nonsmoking men and women with no spouses or children.

The premium increases for 30-year-olds were almost as high as for 23-year-olds – 73.4 percent for men and 35.1 percent for women – said the study, titled “Without Subsidies Women & Men, Old & Young Average Higher Monthly Premiums with Obamacare.”

“It’s very eye-opening in terms of the transformation occurring within the individual health insurance market,” said Kev Coleman, head of research and data at HealthPocket, a nonpartisan, independently managed subsidiary of Health Insurance Innovations in Sunnyvale, California.

“I was surprised in general to see the differences in terms of the average premiums in the pre-reform and post-reform markets,” Mr. Coleman said. “It was a higher amount than I had anticipated.”

The eye-popping increases among younger insurance buyers could be a problem for Obamacare’s long-term solvency given that young people are needed to offset the higher costs associated with older policyholders.

“Obviously they’re very important, and as much as they’re healthier, they tend to use health care less, so you want to try and have as many of those people enrolled as possible. And the cost for them went up very [steeply],” Mr. Coleman said.

The price increases for 63-year-olds were less dramatic: a 37.5 percent increase on average for women and 22.7 percent for men.

The study doesn’t include the federal premium subsidies offered to those earning between 100 and 400 percent of the federal poverty limit, but Mr. Coleman points out that not everyone in that bracket qualifies because their premiums must exceed a certain percentage of their income.

“So you still have this issue of health insurance rising for that very young group and, depending on where they are with respect to income and premium, they may not qualify for a subsidy,” Mr. Coleman said. “That’s what we like to refer to as a subsidy gap.”

The report also notes that somebody pays for the subsidy, even if it’s not the policyholder.

“Another important consideration in the discussion of subsidized premiums is that the subsidized portion of the premium still must be paid by the government through the money it collects from the nation,” says the study. “In other words, the subsidized costs of health insurance do not disappear but instead change payers.”

A spokeswoman with the Department of Health and Human Services declined to comment because she had not yet seen the report.

The reasons for the premium increases start with the ACA’s prohibition on rejecting applicants with pre-existing conditions, which means that insurance companies must account for the additional costs of covering chronically ill or disabled people.

Another cost driver is the heightened benefit mandate. The ACA requires insurance policies to include 10 “essential health benefits,” including pediatric dental and vision care, maternity care and newborn care, even for policyholders with no children or whose children are adults.

“If you’re expanding the services you’re covering, and you’re increasing the number of less healthy people in your risk pools, that’s going to increase costs,” Mr. Coleman said. “Attendant to that would be an increase in premiums to be able to appropriately cover those costs.”

He also noted that the study doesn’t weigh policies based on enrollment, meaning that it includes the costs of insurance plans that may have few enrollees.

The report examines premium costs from the two largest metropolitan areas of each state, using data from public insurance records obtained from the Department of Health and Human Services.

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Poll: Which Obama Regime Policies Have Been The Most Disastrous?


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*VIDEO* Apparently, Hillary Clinton Believes That Jobs Are Created By The Magic Federal Employment Fairy


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Socialist Party Demands $20 Minimum Wage, But Insists It Shouldn’t Have To Pay Its Employees $20 An Hour

Socialist Party Demanding $20 Minimum Wage Insists It Should Not Be Subject To $20 Minimum Wage – Daily Caller

The socialist party in Seattle that wants to raise the federal minimum wage to $20 per hour but advertised a job last week for an experienced web developer paying just $13 per hour is now defending itself.

The Huffington Post, which was sued by a bunch of unpaid bloggers after founder Arianna Huffington sold the website for $315 million, has the story.

The argument from the Freedom Socialist Party is that it cannot afford the minimum wage it seeks to impose on every commercial entity in America.

Doug Barnes, the Freedom Socialist Party’s national secretary, claimed that the collectivist political organization shouldn’t be subject to its own wage demands because it is a nonprofit that receives revenue from leftist contributors.

“We’re practicing what we’re preaching in terms of continuing to fight for the minimum wage,” Barnes told the HuffPo. “But we can’t pay a lot more than $13.”

Barnes also suggested that the Freedom Socialist Party would make more money off the backs of the low-wage workers he claims make many contributions if the federal government or state governments forced businesses to pay employees a minimum of $20 per hour.

“Our donor base would all be affected, and the low-wage workers who support us with $5 to $6 a month would be able to give more,” he told HuffPo. “That would affect our ability to pay higher wages as well.”

He noted that he personally supports a $22 per hour minimum wage.

According to his Facebook page, Barnes is a graduate of the Evergreen State College.

His Facebook “likes” include Occupy Seattle, Syrian Revolution Support Bases, El Centro de la Raza, Mumia Abu Jamal and Bay Area Radical Women.

Despite his spirited defense of the help wanted ad, Barnes added that the Freedom Socialist Party has since removed its ad from both Indeed.com and Craigslist.

“The right-wing attack is very hypocritical,” the socialist – who wants a $20 minimum wage but has sought a $13-per-hour web developer – lamented.

The Daily Caller predicted such an outcome, by the way, and saved a screenshot of the ad as it appeared at Indeed.com. You can see it below.

In 2012, the Freedom Socialist Party’s national platform championed “full employment” and an increase in the minimum wage “to $20 an hour” for all employees in all jobs.

The Freedom Socialist Party’s 2012 political platform also demanded a 70 percent tax rate for “the top 1 percent”; “free multi-lingual public education, including ethnic studies, through college and trade school”; free abortions; bank nationalization; and the cancellation of all free-trade treaties.

Despite last week’s offer of a part-time, 20-hour-per-week, $13-per-hour job, the party also called for a 30-hour work week for everyone “with no cut in pay” and “a guaranteed annual income.”

A part-time web developer making $13 per hour and working 20 hours per week would bring home about $13,600 annually, before taxes.

The Seattle headquarters of the Freedom Socialist Party appears to be located in an apartment building directly across the street from a Bank of America branch.

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Feds Waste Nearly $40 Million Of Potential Ebola Funding On Origami Condoms And Fat Lesbians

$39,643,352 Worth Of NIH Funding That Could Have Gone To The Ebola Vaccine – Washington Free Beacon

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The National Institutes of Health (NIH) has spent more than $39 million on obese lesbians, origami condoms, texting drunks, and dozens of other projects that could have been scrapped in favor of developing an Ebola vaccine.

“Frankly, if we had not gone through our 10-year slide in research support, we probably would have had a vaccine in time for this that would’ve gone through clinical trials and would have been ready,” said NIH Director Francis Collins, blaming budget cuts for his agency’s failure to develop a vaccine for the deadly virus.

However, the Washington Free Beacon has uncovered $39,643,352 worth of NIH studies within the past several years that have gone to questionable research.

For instance, the agency has spent $2,873,440 trying to figure out why lesbians are obese, and $466,642 on why fat girls have a tough time getting dates. Another $2,075,611 was spent encouraging old people to join choirs.

Millions have gone to “text message interventions,” including a study where researchers sent texts to drunks at the bar to try to get them to stop drinking. The project received an additional grant this year, for a total of $674,590.

The NIH is also texting older African Americans with HIV ($372,460), HIV and drug users in rural areas ($693,000), HIV smokers ($763,519), pregnant smokers ($380,145), teen moms ($243,839), and meth addicts ($360,113). Text message interventions to try to get obese people to lose weight have cost $2,707,067.

The NIH’s research on obesity has led to spending $2,101,064 on wearable insoles and buttons that can track a person’s weight, and $374,670 to put on fruit and vegetable puppet shows for preschoolers.

A restaurant intervention to develop new children’s menus cost $275,227, and the NIH spent $430,608 for mother-daughter dancing outreach to fight obesity.

Sexual minorities have received a substantial amount from the NIH. The agency has now spent $105,066 following 16 schizophrenic LGBT Canadians around Toronto for a study on their community experiences.

The total for a project on why gay men get syphilis in Peru is now $692,697 after receiving additional $228,425 this year. The NIH is also concerned about postpartum depression in “invisible sexual minority women,” with a study that has cost $718,770.

Millions went to develop “origami condoms,” in male, female, and anal versions. The inventor Danny Resnic, who received $2,466,482 from the NIH, has been accused of massive fraud for using grant money for full-body plastic surgery in Costa Rica and parties at the Playboy mansion.

How transwomen use Facebook is the subject of another NIH study worth $194,788.

The agency has also committed $5 million to “mine and analyze” social media to study American’s attitudes toward drug abuse, and $306,900 to use Twitter for surveillance on depressed people.

The NIH has also spent $15,313,372 on cessation studies devoted to every kind of smoker imaginable. Current studies are targeted at American Indians ($2,899,954); Chinese and Vietnamese men ($424,875); postmenopausal women ($4,151,850); the homeless ($558,576);Korean youth ($94,580); young schizophrenics ($397,802); Brazilian women smokers ($955,368);Latino HIV-positive smokers($471,530); and the LGBT community ($2,364,521).

Yale University is studying how to get “Heavy Drinkers” to stop smoking at a cost of $571,799. Other projects seek to use Twitter to provide “social support to smokers” ($659,469), and yoga ($1,763,048) as a way to quit.

An NIH project studying sighs cost taxpayers $53,282.

On Tuesday, Health and Human Services (HHS) had to outsource efforts at an Ebola vaccine to the Baltimore-based Profectus BioSciences Inc. The company will receive $8.6 million to research and test their vaccine, a fraction of NIH funding that went to the above projects.

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Census Bureau Supervisor Blows Whistle On Economic Data Falsification; Is Ignored By Higher-Ups

Denver Census Staffer Brings Data Falsification To Light – New York Post

A field supervisor in the Census Bureau’s Denver region has informed her organization’s higher-ups, the head of the Commerce Department and congressional investigators that she believes economic data collected by her office is being falsified.

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And this whistleblower – who asked that I not identify her – said her bosses in Denver ignored her warnings even after she provided details of wrongdoing by three different survey takers.

The three continued to collect data even after she reported them.

When I spoke with this whistleblower earlier this year as part of my investigation of Census, she told me that hundreds of interviews that go into the Labor Department’s unemployment rate and inflation surveys would miraculously be completed just hours before deadline.

The implication was that someone with the ability to fill in the blanks on incomplete surveys was doing just that.

The Denver whistleblower also provided to the House Committee on Oversight and Government Reform the names of other Census workers who can spill the beans about data fraud in other regions.

Census is broken up into six regions. Cheating has already been proven in the Philadelphia region. And with this whistleblower’s letter, Census authorities now have allegations that the same kind of nonsense was going on in Denver – that office covers Arizona, Colorado, Kansas, Montana, Nebraska, New Mexico, North Dakota, South Dakota, Oklahoma, Texas, Utah and Wyoming

The Oversight Committee recently completed a report along with the Joint Economic Committee of Congress that verified one case of falsification in the Philly office. But the committee said it couldn’t prove or disprove that there was a nationwide pattern of data fraud because Commerce – which oversees Census – had “obstructed” its investigation.

“There are serious issues within the Census Bureau Denver regional office management and I feel it’s time that you are made aware of them,” the whistleblower wrote on Sept. 30 to Penny Pritzker, the head of Commerce, and Wayne Hatcher, associate director of Census Field operations.

That same information, along with about a thousand e-mails and other documents, was also sent to the Oversight Committee.

The case of falsified data in Philly – by a surveyor named Julius Buckmon – resulted in a lengthy investigation by Commerce’s Inspector General as well as the probe by the Oversight Committee and the Joint Economic Committee.

The IG’s investigation resulted in widespread changes in the way data is collected and checked. One of the key changes is that supervisors can no longer conduct what are called “re-interviews” of their own workers’ surveys.

By conducting a re-interview, Census can often spot a fraudulent survey. The problem is that the supervisors conducting the re-interview weren’t motivated to report fraud because it reduced the number of completed responses they could report toward their quota.

I asked recently the Denver whistleblower her opinion on the surveys Census is providing. “When the question is asked about data quality, my answer would be simple, there is none,” she said.

“I wouldn’t trust any data from the Census Bureau,” she added.

Last Friday, for instance, Labor announced that a healthy 248,000 new jobs were created in September, when the unemployment rate dipped to 5.9 percent from 6.1 percent.

Those 248,000 new jobs are determined by a survey of companies – the Establishment Survey, it’s called – that is conducted by Labor itself. So while some people rightly take issue with the quality and temporary nature of many of those new jobs – and the fact that not enough have been created in the current economic cycle – the tabulation itself isn’t really in doubt.

The 5.9 percent unemployment rate comes from the Household Survey that Labor hires Census to conduct. There are big concerns about the truthfulness of the jobless rate, especially since this is the last report before the November congressional elections.

For instance, in September the rate fell to 5.9 percent mainly because 315,000 more people told Census they stopped looking for a job.

In fact, about a third of the recent decline in the unemployment rate can be attributed to a decline in the so-called Labor Participation Rate, which is now at a 36-year low. Ninety-six million Americans no longer consider themselves in the labor force.

Some think there is a logical explanation for this: baby boomers who are leaving the workforce because they simply don’t want to work anymore. But the data doesn’t bear that out.

There were 230,000 more workers aged 50 or older in the Household Survey released Friday. So how did the workforce decline by 315,000 people, if aging baby boomers were increasingly looking for jobs?

It’s either a miracle or someone’s pulling our leg.

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