As they're living with their parents because they can't afford an apartment of their own.
this post was submitted on 09 May 2024
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This is a serious point. I couldn’t afford a place until I was in a relationship. And that was a long time ago. I can’t imagine how difficult it would be with today’s rent.
For one city in Germany there was an article reporting that moving in together became the new marriage, because giving up your previous accommodation means to be stuck together in the same place for six months or longer after a breakup.
Having a roommate turned an apartment from unaffordable luxury to merely 25% of my paycheck.
I honestly think having roommates is fun, particularly if you're old friends anyway. But its crazy that a spot at the ass end of town was eating so much of my take home pay even after we cut the bill in half.
Yup. Rent and then food right now.
Don't worry though we solved inflation. We just removed it from our calculations. If we don't count it: it's not there!
Investment funds stocking up on US farmland in safe-haven bet
Investment funds have become voracious buyers of U.S. farmland, amassing over a million acres as they seek a hedge against inflation and aim to benefit from the growing global demand for food, according to data reviewed by Reuters and interviews with fund executives.
The trend worries some U.S. lawmakers who fear corporate interest will make agricultural land unaffordable for the next generation of farmers. Those lawmakers are floating a bill in Congress that would impose restrictions on the industry’s purchases.
Though their acreage is a small slice of the nearly 900 million acres of U.S. farmland, the pace of acquisitions by investment firms like Manulife Investment Management and Nuveen has quickened since the 2008 global financial crisis drove firms to seek new investment vehicles, according to Reuters interviews with fund managers and an analysis of data from the National Council of Real Estate Investment Fiduciaries (NCREIF).
The number of properties owned by such firms increased 231% between 2008 and the second quarter of 2023, and the value of those holdings rose more than 800% to around $16.2 billion, according to NCREIF's quarterly farmland index, which tracks the holdings of the seven largest firms in farmland investment.
Farmland offers steady returns even in periods of high inflation, and firms hope crop demand will remain steady as the United Nations predicts the world will need 60% more food by 2050 due to population growth.
You don't want to confuse "inflation" with "economic growth". One makes prices go up because the evil bad salaries are increasing. But the other makes profits go up because of the smart efficient business net revenues are increasing.
A prosperous nation needs big new investments in the future. And that means speculating in our domestic breadbasket, so we can maximize the price of inelastic commodities in an effort to optimize consumption habits. You don't like waste, do you? Optimizing price reduces waste. Its all right here in the book Basic Economics by totally non-problematic and very smart guy Thomas Sowell.
Do we REALLY need to quiz people to know this? Ffs.
I assumed it was housing.
If we could afford housing, then that would be it.
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hey rich people, ever heard the stories of what happens when the mass working class gets hungry?
Rephrased: 54% of young Americans live with their parents or in large communal housing and still struggle to afford food.
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I was a bit surprised rent wasn't higher, but I wonder how many of the respondents haven't moved and have rent control, so they aren't affected by rent hikes.
Rent and health insurance definitely for me unfortunately
Shit's bad in Canada, and our grocery store megacorps are taking us for all we've got. Five boneless skinless chicken breasts for $28 is insanity. Yet here we are.
I went to get chicken for some meal prep a couple of days ago (Missouri, US) and a 1lb container of just chicken breast tenders costs $13, I figured it was a "labor" cost for cutting the tenders off before the customer buys it, like how a container of diced onion costs an order of magnitude higher than just buying a whole onion, but nope, the pack of 2 breasts right next to it cost basically the same, maybe only 50 cents cheaper, and I wasn't in anything expensive like a whole foods, just a generic lowcost midwest regional store. It's absolutely ridiculous. Not to mention 2 orange or red bell peppers costs $5....
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Man, I don't know what I'd do without Aldi. Ironic that the best grocery chain in America is European, when the American Grocery Store used to be such a symbol of U.S. prosperity.
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This fucking god awful economy is literally built out of strains on millennials finances.
Yeah no shit
I make way more than I did in my 30s (53 now) but I feel way poorer. Of course my mortgage payment is more than 3x what it was back then … that might be a reason.
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Considering only 30% of the people in this survey from ages 18-34 are working full time, i'm going to go ahead and say this isn't an accurate representation of independent young adults.
26% are in school and 16% are unemployed for a total of 42% not really making money / are using loans for housing or are living at home.
28% are working part time and are unlikely to be living on their own - it's rare to find a part time gig that can afford housing.
So 22% think housing is the highest cost issue... and only 30% are employed full time... sounds about right to me! I'm guessing it's not 30% because those 8% got mortgages during the 4% or lower interest rate era.
What do you mean by independent young adult. Is that even possible to be any more? Without being born wealthy or making a huge gamble in health and safey or finances or both?
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No need for bread lines if you can't afford bread.
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