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Dying Middle Class: The Number Of Americans That Can’t Afford Their Own Homes Has More Than Doubled

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Have you lost your spot in the middle class yet? For years I have been documenting all of the numbers that show that the middle class in America has been steadily shrinking, and we just got another one. According to a report that was produced by researchers at Harvard University, the number of Americans that spend more than 30 percent of their incomes on housing has more than doubled. In 2001, nearly 16 million Americans couldn’t afford the homes that they were currently living in, but by 2015 that figure had jumped to 38 million.

 

When I write about “economic collapse”, I am writing about a process that has been unfolding for decades in this country. Back in the early 1970s, well over 60 percent of all Americans were considered to be “middle class”, but now that number has fallen below 50 percent. Never before in our history has the middle class been a minority of the population, but that is where we are at now, and the middle class continues to get even smaller with each passing day.

So these new numbers saddened me, but they didn’t exactly surprise me. The following comes from NBC News

Over 38 million American households can’t afford their housing, an increase of 146 percent in the past 16 years, according to a recent Harvard housing report.

Under federal guidelines, households that spend more than 30 percent of their income on housing costs are considered “cost burdened” and will have difficulty affording basic necessities like food, clothing, transportation and medical care.

But the number of Americans struggling with their housing costs has risen from almost 16 million in 2001 to 38 million in 2015, according to the Census data crunched in the report. That’s more than double.

Sometimes people try to convince me that the economy is doing “well”, but when I ask them how they are doing personally the news is almost always dreary. I know so many people that are working for close to minimum wage that used to be solidly in the middle class.

One of the biggest reasons why the middle class is shrinking is because paychecks are staying about the same while the cost of living continues to rise steadily. Of course one of the biggest factors in the rise of the cost of living is health insurance.

There are many people out there that have seen their health insurance premiums double since Obamacare went into effect. And one health insurance company actually tried to do this to me and my family too, and so at that time I immediately switched carriers.

But even though virtually every single Republican in Congress campaigned on repealing Obamacare, it doesn’t look like it is going to happen. In fact, on Sunday Senator John McCain told Face the Nation that the effort to repeal Obamacare is “probably going to be dead”

Sen. John McCain, R-Ariz., said Sunday the Republican bill to repeal and replace Obamacare is “probably going to be dead.”

“My view is that it’s probably going to be dead,” he said on CBS’s Face the Nation.

Support for the bill has been eroding over the July 4th recess, and McCain said he believes Republicans should work with Democrats to craft health care legislation.

As a voter, this greatly frustrates me. The Republicans got a bill to repeal Obamacare through the House and through the Senate and on to Barack Obama’s desk in early 2016. So why can’t they get that exact same bill to Donald Trump’s desk now?

We worked really hard to give the Republicans control of the White House, the Senate and the House, and now they are stabbing us in the back once again.

This is just one example of why I intend to be a “wrecking ball” if I get the chance to go to Washington.

We have got to lower health care costs on the middle class. There is no other option. Millions of families all over the country are being absolutely suffocated by rising health insurance premiums. Sometimes I get so frustrated with these RINOs (Republicans In Name Only) that I want to scream.

So many families are living on the edge right now. Various surveys have discovered that somewhere around two-thirds of the entire nation is living paycheck to paycheck at least part of the time, and one study found that 69 percent of all Americans do not have an adequate emergency fund.

But when you are living on the edge, there is always a danger that you could go over.

Every month, more Americans fall out of the middle class and into poverty. Even during this so-called “economic recovery”, we are seeing alarming spikes in poverty all over the nation. For example, the number of homeless people living on the street in New York City has increased by 39 percent over the past year…

Street homelessness in New York increased by 39 percent in 2017, according to the latest annual survey by the Department of Homeless Services.

There were 3,892 homeless and unsheltered people on the night of February 6, 2017, up from 2,794 people at the same time last year, said the report, which is conducted on one night of the year. This is the highest increase since 2005, when Michael Bloomberg was mayor.

And bankruptcies continue to rise as well. Consumer bankruptcies were up once again last month, and commercial bankruptcies continue their very disturbing climb

Commercial Chapter 11 bankruptcies – an effort to restructure the business, rather than liquidating it – jumped 16% year-over-year in June to 581 filings across the US. Total commercial bankruptcies of all types, by large corporations to tiny sole proprietorships, rose 2% year-over-year to 3,385 filings, according to the American Bankruptcy Institute. This was up 39% from June 2015 and up 18% from June 2014.

Since the end of the last recession, the middle class has continued to get smaller and smaller in this country, and now it appears that another economic downturn is upon us.

Are we just going to stand aside and do nothing as the middle class in America dies?

The Democrats don’t seem to care.

The Republicans don’t seem to care.

If we continue to do the same things that we have been doing, we are going to continue to get the same results.

In other words, unless we start doing things differently the middle class in America is going to continue to be systematically eviscerated.

Wake up America. The middle class is dying and if we want to save it we have to take action now.

(Originally published on The Economic Collapse Blog)

 
  • Pete Greco

    This is the globalists agenda. Have only 2 groups of citizens – the super rich and the poor. This is what the feudal system was. This also makes it much easier to control what is left of the masses. This is not what the citizens envisioned of the world, but it is and much worse for us of what the globalists want and not envisions, but want.

  • William the Resolute

    The Globalists must remember they have only really succeeded in compromising the coasts…the Heartland is standing strong and will oppose them to the bitter end.

  • MichaelfromTheEconomicCollapse

    I have never been very good at asking for help. My father was an officer in the U.S. Navy, and he raised me to be very strong and very independent. So for my entire life, I have been a “pull myself up by my own bootstraps” kind of guy. From a very early age I came to think of asking others for help as a sign of weakness. Of course today I know that is not true, but there is still part of me that hesitates to enlist the support of others even when I really, really need it.

    But now I have been put into a position where I have no choice but to ask for help. As many of you already know, I am running for Congress, and there is no way in the world that I could ever do that by myself.

    So this is quite humbling for me, because I know that if this is not a team effort that I am 100% assured of failing.

    The good news is that a number of my readers have already stepped up to help, and I am so thankful for that. And if you would like to financially support my campaign for Congress, you can do so right here…

    https://www.michaelsnyderforcongress.com/contribute.html

    Thankfully, I don’t have to raise enormous amounts of money to be successful. In some areas of the country, candidates for the House of Representatives raise millions of dollars, but in this district candidates for Congress usually only raise a small fraction of that.

    And there is going to be no incumbent in this district in 2018,
    because the individual that is currently holding this seat is running for governor instead. So the race is wide open, and none of my potential opponents is independently wealthy.

    So to win this race, I just need to raise enough money to be on the same playing field as the others. Because we have already been sharing my message with groups of voters, and after hearing my message many voters that were undecided or that were already committed to another candidate are coming over to my side.

    I am going to have the strongest message in this race, and I just need to get it in front of everyone in this district.

    Once again, this is not actually going to take very much. In fact, if every one of my readers were to donate 10 dollars today, I could be done funding my entire campaign by tomorrow…

    https://www.michaelsnyderforcongress.com/contribute.html

    Over the past seven years, I have published well over 2000 feature articles, and those of you that have been following my work for an extended period of time know my heart. If you believe in me and what I am doing, then I am asking for your support. I am asking those that want to see me in Congress to show that you are standing with me by donating at least 10 dollars to the campaign.

    Perhaps later you will want to donate more, but right now we are just at the very beginning and we are trying to get things off the ground. This is such a critical stage, and we have got to raise some funds in order to do the basic things that every campaign needs to do.

    And of course 10 dollars is not a lot. Many of you will spend more than that on coffee this week. If you have been blessed by me and by my work all these years, would you consider being a blessing to me by helping in this way?

    I want to take the same message that I have been proclaiming in my books, on my websites, and on radio and television all over America to the floor of the U.S. House of Representatives. I wouldn’t be going there to “join the club” or to be just another spineless politician.

    Rather, if I win this election I plan to turn over the tables in
    Washington D.C. and I plan to be a wrecking ball to the spirit of
    political correctness.

    So many of us (including me) have complained that we never have anyone good to vote for, and so I am trying to do my part by putting myself way out on a limb. It is kind of scary out here, but I have faith that those that enjoy my work all over the nation will rally behind me.

    In every generation, Americans have had to sacrifice to defend
    liberty and freedom. Thankfully we don’t have to do that will guns and bullets today, but that doesn’t mean that there aren’t sacrifices to be made.

    Over the next 10 months, I will be spending hundreds upon hundreds of hours on this campaign. I believe that the most pivotal time in modern American history is ahead of us, and we are going to need leadership in Washington that is going to fight for our values.

    If you would like to read more about where I stand on the issues, you can do so right here…

    https://www.michaelsnyderforcongress.com/issues.html

    But of course most of you all already know my heart. I have put everything that I have into my articles for the past seven years, and those of you that have followed me for a long time already know that I am a fighter.

    But if I try to fight this battle alone, I will lose.

    The only way that I am going to win is if you help me.

    Like I said, I am not accustomed to asking for help like this, so all that I can do is open up my heart and be completely honest.

    I need your help.

    If you would like to donate to the campaign, just follow this link…

    https://www.michaelsnyderforcongress.com/contribute.html

    You can donate by credit card, Paypal or by check if you prefer. We are going to stretch every single dollar as far as it can possibly go, and we are going to fight for every possible vote.

    If you have any questions about any of this, please feel free to reach out to me at Michael@MichaelSnyderForCongress.com.

    Our founders had faith that they could stand up to the mighty British empire, and because of that faith the United States of America exists today.

    Now it is our turn to believe that we can make a difference. If you would be willing to let me know that you stand with me by donating at least 10 dollars to the campaign, that would mean the world to me.

    It is during our times of greatest need that we find out who our real friends are, and I am looking for a few good friends to help me now.

    Thank you for following my work on a regular basis, and for more information about how you can get involved in this campaign, please check out my official campaign websites…

    Michael Snyder For Congress: https://www.michaelsnyderforcongress.com/

    Michael Snyder For Idaho: https://michaelsnyderforidaho.com/