The Great Depression 2.0
Takeaways:
- Half of young adults currently live with their parents, a statistic reminiscent of the Great Depression era.
- Unlike in the past where it was about survival, today's housing struggles are more about economics and math.
- With rent consuming 60% of incomes, moving out and achieving independence feels nearly impossible for many.
- We've created a world where personal independence is treated like a luxury item—how did we get here?
- There was a golden age when home ownership was within reach; now, those days seem like a distant dream.
- Our assumptions about permanent independence have been proven wrong, so what does the future hold for us?
This podcast uses the following third-party services for analysis:
Podcorn - https://podcorn.com/privacy
Transcript
Speaker A:
This is the Daily Note.
Speaker A:I'm James A.
Speaker A:Brown.
Speaker A:Half of young adults live with their parents.
Speaker A:Now, that's Great Depression levels.
Speaker A:But here's what's different.
Speaker A: In: Speaker A:Today it's about math.
Speaker A:When rent costs 60% of our incomes and starter homes require giant down payments, moving out is nearly impossible.
Speaker A:We've created a system where independence has become a luxury good.
Speaker A:Three generations under one roof used to be normal.
Speaker A:Then we had this brief historical moment, maybe 50 years, where everyone could afford their own place.
Speaker A:We assumed it was permanent.
Speaker A:And like so many other of our assumptions, we're wrong about that, too.
Speaker A:So what do you think?
Speaker A: -: Speaker A:On that note, I'm James A.
Speaker A:Brown, and as always, be well.
