Relevant:
- The Future of American Housing -- McMansion withdrawal, rethinking commutes, designing housing with lower incomes in mind, and the impact of a fully subsidized mortgage market.
- The broken tassel of American higher education -- College debt defaults bring up questions about repayment structure. Is college even worth the current costs?
- Is College Worth It? Clearly, New Data Say
- 70% of Jobs "Created" Don't Require a College Education
- Exploding The Myth Of The Rebounding Consumer
2012-08-10 — oftwominds.com
What happens when households dump huge percentages of their stagnant incomes down marginal-return ratholes? They get less wealthy, which is exactly what we're seeing. The average American household has been persuaded that pouring money into costly higher education, healthcare and housing are all "investments" that offer high yields.
Sadly, the opposite is true: the returns on these stupendously costly investments is marginal or negative. Let's start with higher education, a topic I have discussed at length numerous times.
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