The twin bubbles of housing and higher education – housing bubble expanded from 1997 to 2007 and imploded. Since 2000 tuition costs have been soaring but graduate pay has been falling. What happens when you price out a generation looking for starter homes?
This post is a shocker if you are not up on the numbers. Looks ominous.
Financialization is spreading to all areas from which rent can be extracted. With incomes stagnant or falling and debt burden increasing, what can the next generation hope for and how is this going to effect the economy?