The U.S. median household income increased 29.3% since January 2020. But the income needed to keep up with the rise in costs to own a median-priced U.S. home went up by 86.6%. Housing market strain: Buyers need an 86% income boost to keep up with home prices
Yikes.
54 percent of Gen Z participants polled for Statista’s Consumer Insights survey in the U.S. between July 2023 and June 2024 claim that owning a car is important to them, compared to 69 percent of baby boomers. This suggests that the perceived necessity of car ownership is not only influenced by the availability and quality of public transit but also by generation. Owning a Car Is Less Important To Younger Generations https://www.statista.com/chart/33097/importance-of-owning-a-car-for-us-residents-by-generation/
Let me think about this. Digital from birth, Covid-19 pandemic global shutdown, social media, shared ride businesses, grocery shopping done and delivered, prepared meal delivery, inflation, cost of cars both new and used, shit jobs that don’t pay much, cost of car insurance and maintenance, cost of gasoline, going Green, fear of accidents, fear of violence, self-fulfilling prophecy, coddled since birth, never learned to drive, never wanted to drive…
Did I miss anything?
Source: The World’s Deadliest Behavioral Risk Factors – https://www.statista.com/chart/32039/behavioral-risks-leading-to-highest-estimated-number-of-deaths-from-related-diseases/
After the collapse of a Surfside Building on June 24, 2021 that killed 98 people, the state passed a structural safety law that is now biting owners. Not only are insurance rates soaring, but owners are hit with huge special assessments topping $100,000. Florida Condo Owners Dump Units Over Six-Figure Special Assessments — https://mishtalk.com/economics/florida-condo-owners-dump-units-over-six-figure-special-assessments/
Ouch.
Nurse practitioners had the largest increases in prescribing incident prescriptions across the 5 drug classes. This is consistent with a study that found that behavioral health visits among Medicare beneficiaries conducted by psychiatric behavioral health nurse practitioners increased by 162%, whereas those by psychiatrists decreased by 6% from 2011 to 2019.35 Our study, based on incident prescription data, suggests an increasing contribution of nurse practitioners initiating medication treatment of behavioral health conditions compared with other health care practitioners.
Chai G, Xu J, Goyal S, et al. Trends in Incident Prescriptions for Behavioral Health Medications in the US, 2018-2022. JAMA Psychiatry. Published online January 10, 2024. doi:10.1001/jamapsychiatry.2023.5045 — https://jamanetwork.com/journals/jamapsychiatry/fullarticle/2813980
Welcome to our new world of self-diagnosed ADHD, online pill mills, and “shortages” of prescription medications.
The past couple of decades have seen a continuous increase in attention deficit hyperactivity disorder (ADHD) diagnoses. National population surveys reflect an increase in the prevalence from 6.1% to 10.2% in the 20-year period from 1997 to 2016 and experts continue to debate and disagree on the causes for this trend.1
ADHD Diagnostic Trends: Increased Recognition or Overdiagnosis? Mo Med. 2022 Sep-Oct; 119(5): 467–473.– https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9616454/
Percentage change in the leading health conditions affecting millennials in the United States from 2014 to 2018 — https://www.statista.com/statistics/1276447/percentage-change-of-the-leading-conditions-affecting-millennials
I was doing my usual Saturday morning routine, catching up on whatever was catching my attention and I came across this Scary Chart looking for ADHD incidence in Millennials. Whoa…check out the early CAD percentage increase.
Source: https://www.statista.com/chart/31306/countries-with-the-highest-annual-increases-in-consumer-prices/
I suppose this should make us feel better about higher prices in the US.
More good news – lithium is cheap again.
Lithium “Shortage” Bubble Implodes (Again), Price Collapsed 77% in a Year, as Demand and Production Both Surged – https://wolfstreet.com/2023/11/23/lithium-shortage-bubble-implodes-once-again-as-demand-and-production-both-surged/
Now all we need to do is find people who want and can afford to buy an EV.
Last month, Ford had laid off some workers building the F-150 Lightning electric pickup truck. Competitor General Motors also said it was postponing adding more production capacity for its electric Chevrolet Silverado EV citing slow-growing demand.
Ford battery plant is back on track but scaled down — https://www.cnn.com/2023/11/21/business/ford-battery-plant-downscaled/index.html
Average new electric vehicle prices are actually down by more than $14,000 compared with 2022, settling at around $50,683 on average, thanks to a combination of increased supply, the arrival of more affordable models and trim levels and aggressive price cuts by Tesla, the largest EV manufacturer in the US.
Cheapest Electric Cars for 2023 — https://www.cnet.com/roadshow/news/the-most-affordable-electric-cars-for-2023/
In just three years, the share of U.S. adults who say they regularly get news from TikTok has more than quadrupled, from 3% in 2020 to 14% in 2023.
More Americans are getting news on TikTok, bucking the trend seen on most other social media sites — https://www.pewresearch.org/short-reads/2023/11/15/more-americans-are-getting-news-on-tiktok-bucking-the-trend-seen-on-most-other-social-media-sites/
While TikTok is an engaging entertainment and social connection platform, there are better sources for in-depth personal financial advice. Many finance content creators sell the allure of quick wealth and success, leading neophyte investors to risky decisions that may have lasting consequences.
TikTok Personal Financial Advice Not To Take —https://due.com/tiktok-personal-financial-advice-not-to-take/
This will not end well.
So that drywall mass produced home that sells for $1 million just went up from $4,519 a month to $7,016! That is a 55% increase in less than one-year. So we now have realtors struggling since they make money on high sales volume. You have commercial real estate getting absolutely smashed. Banks are in a tough spots since they made bets on a low interest rate environment. But now, that same home will cost you $2,497 more per month with no measurable increase in underlying value. The house does not have a built in chef, or unlimited childcare, or a Tesla that comes fully charged every day with no cost to you.
The Stalemate of the Century: Housing Facing an Existential Moment — http://www.doctorhousingbubble.com/the-stalemate-of-the-century-housing-facing-an-existential-moment/
Scary charts as promised from the same article:
Oklahoma.
Or California.
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