Housing

The End of Ownership: Why Aren’t Young People Buying More Houses? – The Atlantic

The science is weak, but the observations are true. Fewer young people are finding jobs. Fewer young people are getting married. Fewer young people are buying homes.

Goldman Backpedals On Housing Recovery, Delays “Housing Bottom” Forecast To Mid-2013 – Zero Hedge

The 10 Best Cities To Buy Bank-Owned Properties – Business Insider

Foreclosures Rise to 24% of U.S. Home Purchases as Short Sales Increase – Bloomberg

(San Francisco didn’t make the list)

Economy

Inflation: Not as low as you think – CBS

Everyday prices are up some 8 percent over the past year, according to the American Institute for Economic Research.

Understanding Greece’s default -Felix Salmon (video)

Only 54% Of Young Adults In America Have A Job – Zero Hedge

Bailout Ingrate Bank of America to Impose Monthly Fees on Many “Basic” Checking Account Customers - Yves Smith

Silicon Valley Homeless Feel The Grip Of Recession’s Long Reach – HuffPo

Her resume, with a degree in electrical engineering from Duke University and stints in senior positions at software companies, including a post in Paris, had once made her an exemplar of Silicon Valley success. A combination of personal troubles, long-term unemployment and bleak economic times had since turned her into an example of something else: the new suburban poor proliferating in nearly every American metropolitan area — even here, within miles of the shimmering campuses of Google, Apple and other wellsprings of unfathomable wealth.

Misc.

88% of Employers Use LinkedIn for Hiring (and Half Use Facebook) – The Atlantic

Unbelievable Stress of Making “Only” $200,000 After Taxes - Mish

Andrew Schiff said the $350,000 he earns, enough to put him in the country’s top 1 percent by income, doesn’t cover his family’s private-school tuition, a Kent, Connecticut, summer rental and the upgrade they would like from their 1,200-square- foot Brooklyn duplex.

“People who don’t have money don’t understand the stress,” said Alan Dlugash, a partner at accounting firm Marks Paneth & Shron LLP in New York who specializes in financial planning for the wealthy. “Could you imagine what it’s like to say I got three kids in private school, I have to think about pulling them out? How do you do that?”

(no, this is not The Onion)

Don’t Let Big Banks Hold Us Hostage – Michael Lewis