As we noted in the 12 November issue of the Trends Journal, first-time homebuyers’ median age is 33, the oldest in records since 1981.
Median ages of all homebuyers rose from 31 years in 1981 to 47 years today.
Those who could find an affordable house in 2018 had a typical income of $93,200, but, as noted above, with 44 percent of all workers age 18 to 64 having a $17,950 median annual income, living in a car or on the street is the only affordable option.
Indeed, with one in five California residents aged 65 and older living in poverty, the California dream has become a nightmare. Approximately 40,000 are homeless, and it’s going to get worse. By 2030, this number will increase threefold.
It’s not only the baby boomer population who is sleeping in the streets. California hosts 25 percent of the nation’s homeless population.
Further increasing the risk of future homelessness, almost 40 million (40 percent of the nation’s population) do not have any retirement savings. Households that have been able to save for retirement have an average of $60,000.
TREND FORECAST: As we have noted, the homeless trend will continue to accelerate across the globe as the “Greatest Depression” worsens and civil unrest intensifies.
For example, last year, in New York City alone, at least 114,000 students, or 10 percent of children in the city’s public schools, were homeless – an increase of 70 percent over the past decade.
Indeed, since the Panic of ‘08, tens of millions of people lost their homes, in part as a result of the subprime loan debacle.
While the Federal Reserve pumped in $29 trillion to bail out the bankers responsible for the subprime scam, the bankster class helped push the homeless numbers higher.
For example, California investigators found repeated violations of foreclosure laws of OneWest Bank, which was headed previously by current U.S. Treasury Secretary Steve Mnuchin.
According to The Intercept, OneWest “rushed delinquent homeowners out of their homes by violating notice and waiting period statutes, illegally backdated key documents, and effectively gamed foreclosure auctions.”
It should be noted that nations are blinded by the escalating homeless trend, which will continue to worsen as people escape nations devastated by corruption, crime, violence, and poverty.
To date, not only is this trend virtually ignored, measures are not being taken to manage it.
More Technology, More Homeless
As high tech accelerates, so, too, will global unemployment rates.
For example, dubbed “Operation 4.0,” Deutsche Bank plans to replace 18,000 “backroom” positions with robots, which will save them €6 billion over the next three years. The “robots” – algorithms that automate the work of non-client-facing employees – have so far processed five million transactions.
According to the OECD, some 14 percent of jobs are likely to be automated.
From manufacturing to retail, from clerical services to healthcare, across the employment spectrum, human labor will continue to be replaced by high-tech.
Again, automation’s effects on the world’s populations are systemically ignored.