Let's Talk Economical Changes!

Photo credit goes to bea.gov

The picture above reflects the GDP and how it is being affected with the current state of the country.

GDP (Gross Domestic Pricing)

What is your economy doing for you, and how does the current changes affect you? There has been a huge issue with inflation within the economy and it is not getting resolved. You have heard President Biden stated that the prices have gone down for gas and it has been stable. You are a citizen of this country or a resident, you are on the streets or in the streets almost daily for many of you that reside within this country. You spend most of your time working and creating a comfortable living for your family, or for yourself if you are single; with the cost of everything going up, the pay rate for the middle or lower class is not reaching a place where you are able to survive in away that you do not have to give every ounce of you. How does the inflation affect you? How is it currently affecting you? The price of eggs have sky rocketed 60% since last year, flour price went up 24.9%, milk 14.7% coffee 14.6% chicken 12%, and vegetables 9.7% reported by CNN.

Photo credit goes to New York Times

 Many citizens are complaining about the rise in the cost of housing and how they are barely able to afford a decent living, and housing while living singular. Many have began to cohabitate with others in order to survive or feel as if they are surviving. There are so many people that have lost there homes and even there apartments because of the living prices. There are apartments and condominiums that are being built consistently but the prices are not for those who needs an apartment to live. The prices are for those who want to acquire multiple spaces just incase they need them. People are being forced by there own words to move into these apartments and still create away to live. When your job is not compensating in away that is sufficient to live, what do you do? Some have resort to getting a second job, while others are finding ways to generate other streams of income.

Photo credit goes to New York Times

Interest rates are high on home purchases, at this point you are doing yourself a dis-justice when you purchase a new home with a 15-30 year mortgage; for those whom aren't purchasing to expand within the real estate market meaning if you are not buying to rent this space out to create a profit or viable income to support your family, it is not worth it. One source of income has not been enough for those who live within the cast system of middle and lower class; this has sparked the 50/50 debate amongst the younger generation. The bills within the home that they share will be split between both parties down the middle. Leaving both parties to pay 50% of everything within the home.

Many from the northern states such as New York City, and New Jersey has been fleeing the city and seeking residency within the compounds of other states as the price to live escape there grasp. They have been fleeing to states such as Florida, South Carolina, Georgia, Washington D.C, Virginia and Texas. In search of finding better prices and comfortability out of the normal city life. With the high level of migration to the state of Florida, not only from New York but California as well; this is causing  inflation within the current housing markets in this particular state; which is making it hard for native Floridians to maintain. City in florida that are current suffering Fort Lauderdale, Pembroke Pines, Hollywood, Miami, Gainesville, Orlando and Jacksonville.

Below is the New York State Mayor addressing their housing crisis.