RIP American Dream...................from Rico

This is representative NOT of "recovery" but of the "wealth redistribution" [read: strip mining] from the American Middle Class.

- McMansions are being traded for McBoxes.

 

Renters, not home owners, are the next generation as home owners vanish and renters multiply.

- Tax-serfs working to pay the tax-harvest demanded by the tax-spenders to support the tax-eaters are the new paranormal' in America as rents are paid to some landlord.

 

Americans today can neither afford to save enough money for a down-payment on a home (~20%+), nor can they find a bank willing to loan them the purchase balance in mortgage money to  buy a home...even if they have the good job prospects a good college education provides them, like at McDonald's or delivering pizzas.

 

Housing starts are saying single family homes are as dead as job prospects.

 

Enter the renters.

 

Rental unit permits tell us what is coming.

- Both now, and long-term.

 

And over the hill, just out of sight is this:

- You cannot pass along a rental McBox to your heirs.