In my view, the major economic challenges facing our society and our generation in particular would have to be the price of higher education and the current housing market. I can remember looking at different universities when I was applying to them and the prices of their tuition alone turned me away from them because I could simply not afford it without taking out large loans, which was something I was not willing to do. No matter where you end up going, you can expect to pay many thousands of dollars each semester for a full-time schedule. I have asked many adults how they were able to afford college working as much as I am to pay for it, and every person that worked throughout their time in college said that college was simply much more affordable than it is now. As for the housing market, mortgage rates are higher than they have been in the past 25 years. Houses that were around 150,000 dollars in the early 2000s are now worth over 350,000 to 400,000 dollars. I am at the point where I don't even know if I will be able to afford even a starter home by myself unless I want to save until I am 30. As for renting, rent per month is the price of the typical mortgage payment, so it doesn't even seem justifiable to put that amount of money towards something like that. please help reply to this discussion post

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In my view, the major economic challenges facing our society and our generation in particular would have to be the price of higher education and the current housing market. I can remember looking at different universities when I was applying to them and the prices of their tuition alone turned me away from them because I could simply not afford it without taking out large loans, which was something I was not willing to do. No matter where you end up going, you can expect to pay many thousands of dollars each semester for a full-time schedule. I have asked many adults how they were able to afford college working as much as I am to pay for it, and every person that worked throughout their time in college said that college was simply much more affordable than it is now. As for the housing market, mortgage rates are higher than they have been in the past 25 years. Houses that were around 150,000 dollars in the early 2000s are now worth over 350,000 to 400,000 dollars. I am at the point where I don't even know if I will be able to afford even a starter home by myself unless I want to save until I am 30. As for renting, rent per month is the price of the typical mortgage payment, so it doesn't even seem justifiable to put that amount of money towards something like that.

please help reply to this discussion post

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The given question has been answered from the generalized perspective of Macroeconomics.

The information provided highlights the problem of increasing costs. This includes tuition costs, which have substantially increased recently and are making it harder for many to finance higher education without taking on a sizable debt. The present housing market is characterized by quickly increasing property prices and mortgage rates. This has made it impossible for many people to purchase homes or even afford rent due to the high monthly expenses involved.

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