US college graduates cannot afford the glorious consumerism that has come to define the nation
Once upon a time, achieving the American dream required a bit of consumerism, like owning a home and an automobile. Today, however, an increasing number of youth, confronted as they are with deep economic uncertainty, have stepped back from chasing the seductive illusion.
In what has become something of an American rite of passage, millions of young people each year leave the family nest and head off for university, which is typically followed by starting a career and family of their own. Yet the decades-old tradition has suffered a setback of late as many graduates are scampering back home once they get a taste of the harsh economic realities beyond the sheltered college campus, like affording their own home or apartment.
Not since the aftermath of the Great Depression has the US witnessed anything like it: 45% of all Americans ages 18 to 29 – about 23 million young men and women – are still living with their parents, according to a survey conducted by Harris Polls on behalf of Bloomberg News.
The newfound preference for life in the familial basement is no surprise considering that mortgage rates currently stand at a 22-year high (7.23% on a 30-year fixed-rate mortgage), while house prices have gone through the proverbial roof. For the second quarter of 2023, the average sales price of homes sold in the United States was $495,100, just $60,000 below the record average price set at the end of 2022. Since the beginning of 2019, the cost of buying a home has risen by more than a hundred thousand dollars. Not surprisingly, mortgage demand has recently sunk to a 28-year low, with applications down 44% from last year.....more below
https://www.rt.com/news/585391-us-college-lack-consumer-income/
Russian Foreign Ministry spokeswoman Maria Zakharova earlier said that the treaty provides for various forms of bilateral cooperation.
The comprehensive strategic partnership agreement between Russia and Iran has entered into force, Iranian Ambassador to Russia Kazem Jalali told Sputnik.
"It is already binding," Jalali said when asked about the date of entry into force of the agreement, as well as whether Iran had notified Russia of the completion of internal procedures.
He recalled that the treaty was ratified by both chambers of the Russian parliament, and Russian President Vladimir Putin signed it. At the same time, the document was ratified by the Iranian parliament, approved by the Guardian Council, and the president issued it as a law.
"Therefore, in both countries it currently has the form of a law and, naturally, has entered into force," Jalali said.
On January 17, Putin and his Iranian counterpart, Masoud Pezeshkian, met in Moscow to sign the Comprehensive Strategic ...
Defying the United States threats, ministers from more than 30 nations have packed Bogotá’s San Carlos Palace to charge the Israeli regime with genocide over its October 2023-present brutal military assault against the Gaza Strip.
The dramatic display of international solidarity saw dozens of high-ranking officials from across the globe convene inside the stately palace on Tuesday, determined to hold the regime accountable for, what they unequivocally called, a “war of genocide.”
The two-day emergency summit, organized under the auspices of The Hague Group -- a coalition co-chaired by Colombia and South Africa -- had representatives, ranging from such countries as Algeria and Brazil to Pakistan and Spain, in attendance.
The participants described the drive as a coordinated effort to stop the Israeli atrocities.
Behind closed doors, ministers and envoys, meanwhile, engaged in intensive sessions aimed at drafting collective measures to pressure the regime -- steps expected to be unveiled by ...
