Tag Archive for: millennials

California’s Vanished Dreams, By the Numbers

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Even today amid a mounting exodus among those who can afford it, and with its appeal diminished to businesses and newcomers, California, legendary state of American dreams, continues to inspire optimism among progressive boosters.

Laura Tyson, the longtime Democratic economist now at the University of California at Berkeley, praises the state for creating “the way forward” to a more enlightened “market capitalism.” Like-minded analysts tout Silicon Valley’s massive wealth generation as evidence of progressivism’s promise. The Los Angeles Times suggested approvingly that the Biden administration’s goal is to “make America California again.” And, despite dark prospects in November’s midterm elections, the President and his party still seem intent on proving it.

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The Most Dangerous Class

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Twenty-first-century America may be dominated by oligarchic elites, but arguably the biggest threat to our economic and political system might be located further down the food chain. This most dangerous class comes from the growing number of underemployed, overeducated people. They’re what has been described in Britain as the lumpenintelligensia: alienated, angry, and potentially agents of our social and political deconstruction.

This is far more than an angry mob shouting in keystrokes, but the proto-proletariat of a feudalizing post-industrial society. Overall, notes one recent study, over the past 20 years we have created twice as many bachelor’s degrees as jobs to employ them. Instead of finding riches in the “new economy,” many end up in lower-paying, noncredentialed jobs. They then compete with working-class kids, often products of similarly dysfunctional high schools; an estimated one-third of American working-age males are now outside the labor force, suffering high rates of incarceration, as well as drug, alcohol, and other health issues.

Although they are not subject to the same pressures of the working class, the fate of those attending college and even graduating is far from bright. This is the most-anxious generation in recent history, and for good reason. Today more than 40 percent are working in jobs that don’t require their degree, according to a recent report from the Federal Reserve Bank of New York. Another study notes that most may never ascend to the kinds of jobs that graduates have historically enjoyed.

This is a global phenomenon. Over a quarter of Chinese graduates are unemployed, and the number is increasing.

In India, one in three graduates up to the age of 29 is unemployed, according to a Labour Ministry report released last November, almost three times the country’s overall unemployment rate. A recent U.N. analysis also suggested that this huge bulge of underemployed educated people could undermine the country’s stability in the years ahead.

As Greta Thunberg and her legions remind us, young, discontented people have tended to push toward the extremes. In Latin America, underemployed graduates have long been a source of disruption. Today roughly half of all Latin American college students don’t graduate, and many never really see a payback for their time in college.

A similar pattern of disruption drove the Arab Spring. There, as well as in the Balkans, unemployed and underemployed college graduates have been a major disruptive force. In Africa, where youth unemployment is also high and the numbers are growing fastest, college graduates who compose barely 7 percent of the total workforce also labor in low-end jobs.

Read the rest of this piece at National Review.

Joel Kotkin is the author of The Coming of Neo-Feudalism: A Warning to the Global Middle Class. He is the Roger Hobbs Presidential Fellow in Urban Futures at Chapman University and Executive Director for Urban Reform Institute. Learn more at joelkotkin.com and follow him on Twitter @joelkotkin.

Fresno Business Council Meeting

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Joel Kotkin and Marshall Toplansky join a Fresno Business Council Board Meeting to discuss unaffordable housing and solutions to housing costs.

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Class War is Just Beginning

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With the seeming deconstruction of the Biden Administration proceeding at a rapid clip, many on the right hope for an end to the conscious stoking of class resentments that has characterized progressive politics. Yet despite the political meltdown, America’s class divides have become so wide, and so bitter, that Biden’s presidency may prove more a prelude than a denouement for the future of class warfare.

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Own Nothing and Love It

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From the ancient world to modern times, the class of small property owners have constituted the sine qua non of democratic self-government. But today this class is under attack by what Aristotle described as an oligarchia, an unelected power elite that controls the political economy for its own purposes. In contrast, the rise of small holders were critical to the re-emergence and growth of democracy first in the Netherlands, followed by North America, Australia, and much of Europe.

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Have We Reached the High Water Mark of Woke?

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Over the past decade, the woke agenda has crested like a giant tsunami, covering virtually the entirety of academia, the media, the corporate world and even the military. The Gramscian concept of ‘the long march through the institutions’, embraced by 1960s radicals like Germany’s Rudi Dutschke, has achieved overwhelming success.

Yet there are signs that the woke progressive model may be losing its appeal, even among some liberals. The bulk of public opinion is not in progressives’ favour. In the US, activist progressives, notes a recent study, represent eight per cent of the electorate – barely half the size of moderates and barely a third of the size of conservatives. What they lack in numbers, however, they make up for with single-minded determination; progressive whites, notes the Atlantic, are the most intolerant of all Americans, led by those in the Boston area, while people in smaller towns and cities seem far more open.

The scalps of those targeted by the woke are strewn across the landscape. There’s the cancellations of ideologically unacceptable speakers, the delisting of books and the increasingly selective media coverage, evident particularly in the 2020 election and its aftermath. Yet the very vehemence of progressives, their lack of humour or grace, may prove to be their undoing.

Among Republicans, wokeness drives them further away from the mainstream media, as many of them now regard certain outlets as little more than vehicles for proselytising progressivism. But it’s not just the nutjobs of the far right. A recent Rasmussen survey found that 58 per cent of likely voters ‘at least somewhat agree that the media are the enemy of the people, including 34 per cent who strongly agree’.

‘Cancel culture’ is no more popular than the rest of the woke agenda. More millennials oppose than support cancel culture, notes a recent Morning Consult poll. The older generations are much more firmly against it. But most heartening is that those in the younger generation, the so-called Zs, are the most hostile to cancel culture, with 55 per cent disapproving of it and only eight per cent supporting it.

Simply put, what progressives are offering the populace does not much like, particularly on social issues. There’s been a record-breaking surge of violent crime, but some progressive politicians and media enablers have refused to combat disorder. Some have even embraced riots, particularly the looting, and backed defunding or even abolishing the police. This has not worked out well for the progressives. In the New York City mayoral elections, a black ex-cop won the Democratic nomination against candidates sympathetic to the ‘defund the police’ approach. Even left-leaning constituencies are horrified by crime, disorder and massive homelessness, as demonstrated when Austin voted overwhelmingly to end camping on the street.

Read the rest of this piece at Spiked.

Joel Kotkin is the author of The Coming of Neo-Feudalism: A Warning to the Global Middle Class. He is the Roger Hobbs Presidential Fellow in Urban Futures at Chapman University and Executive Director for Urban Reform Institute. Learn more at joelkotkin.com and follow him on Twitter @joelkotkin.

Homepage photo: Eric Purcell via Flickr under CC 2.0 License.

The Great Office Refusal

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The pandemic has cut a swath through our sense of normalcy, but as has been the case throughout history, a disastrous plague also brings opportunities to reshape and even improve society. COVID-19 provides the threat of greater economic concentration, but also a unique chance to recast our geography, expand the realm of the middle class, boost social equity, and develop better ways to create sustainable communities.

Driven partly by fear of infection, and by the liberating rise of remote work, Americans have been increasingly freed from locational constraints. Work continues apace in suburbs and particularly in sprawling exurbs that surround core cities, while the largest downtowns (central business districts, or CBDs) increasingly resemble ghost towns.

This shift has made it more practical for individuals and particularly families to migrate to locations where they can find more affordable rents, and perhaps even buy a house. But such a pattern may be countered by investors on Wall Street, who seem determined to turn the disruption to their own advantage by gearing up efforts to buy out increasingly expensive single-family homes, transforming potential homeowners into permanent rental serfs and much of the country into a latifundium dominated by large landlords.

We are in the midst of what the CEO of Zillow has called “the great reshuffling,” essentially an acceleration of an already entrenched trend of internal American migration toward suburbs, the sunbelt, and smaller cities. Between 2019 and 2021 alone, a preference for larger homes in less dense areas grew from 53% to 60%, according to Pew. As many as 14 million to 23 million workers may relocate as a consequence of the pandemic, according to a recent Upwork survey, half of whom say they are seeking more affordable places to live.

This suggests that the downtown cores of U.S. cities will continue to struggle. Since the pandemic began, tenants have given back around 200 million square feet of commercial real estate, according to Marcus & Millichap data, and the current office vacancy rate stands at 16.2%, matching the peak of the 2008 financial crisis. Between September 2019 and September 2020, the biggest job losses, according to the firm American Communities and based on federal data, have been in big cities (nearly a 10% drop in employment), followed by their close-in suburbs, while rural areas suffered only a 6% drop, and exurbs less than 5%. Today our biggest cities—Los Angeles, New York, and Chicago—account for three of the five highest unemployment rates among the 51 largest metropolitan areas.

The rise of remote work drives these trends. Today, perhaps 42% of the 165 million-strong U.S. labor force is working from home full time, up from 5.7% in 2019. When the pandemic ends, that number will probably drop, but one study, based on surveys of more than 30,000 employees, projects that 20% of the U.S. workforce will still work from home post-COVID. 

Others predict a still more durable shift: A University of Chicago study suggests that a full one-third of the workforce could remain remote, and in Silicon Valley, the number could stabilize near 50%. Both executives and employees have been impressed by the surprising gains of remote work, and now many companies, banks, and leading tech firms—including Facebook, Salesforce, and Twitter—expect a large proportion of their workforces to continue to work remotely. Nine out of 10 organizations, according to a new McKinsey survey of 100 executives across industries and geographies, plan to keep at least a hybrid of remote and on-site work indefinitely.

The shift of work from the office to the home, or at least to less congested spaces, threatens the strict geographic hierarchy of many elite corporations. Some corporate executives, like Morgan Stanley’s Jamie Dimon, are determined to force employees back into Manhattan offices, like it or not. It’s now a common mantra among like-minded executives, especially those connected to downtown office development, that workers are “pining” to return to the office. Some have even threatened employees who do not come back in person with lower wages and decreased opportunities for promotion, while offering to reward those willing to take the personal hit of coming back on-site every day.

Read the rest of this piece at Tablet.

Joel Kotkin is the author of The Coming of Neo-Feudalism: A Warning to the Global Middle Class. He is the Roger Hobbs Presidential Fellow in Urban Futures at Chapman University and Executive Director for Urban Reform Institute. Learn more at joelkotkin.com and follow him on Twitter @joelkotkin.

Photo credit: Steven Zwerink via Flickr under CC 2.0 License.

If Your Rent is Going Up, This Episode is for You

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By: Jane Coaston
On: The Argument

Rent is soaring, but close to two-thirds of renters remain on leases because of financial reasons. In 2019, nearly 70 percent of millennials surveyed said that they could not afford to buy a home on account of rising prices, and the number of people in the United States without shelter has increased by about 30 percent in the past five years. We’re in a housing crisis. Read more

To Make Homeownership Affordable in California, Rethink the Suburbs

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California’s future as a place of aspiration is fading for all but the wealthiest residents — with that promise nearly out of reach for young people and new immigrants.

This state has become a place marked both by spectacular successes and by not-so-welcome superlatives. The rise of the tech giants, engines of wealth creation, coexists with the nation’s highest cost-adjusted poverty rate, the second-lowest rate of homeownership among the states and the greatest concentration of overcrowded housing in the nation.

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Millennials Are a Lot Less Progressive Than You Think

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Millennials have long been cast as the great progressive hope, or “New Progressive America: The Millennial Generation,” as one study would have it. 25- to 40-year-old Americans, already the largest portion of the current adult population, have been cast by progressives as “a hero generation” that will escape the material trappings of their Boomer parents’ suburban lives and pull American politics far to the Left.

To be sure, millennials are the most Democratic-leaning of generations, as the Pew Research Center found; they have close to a 60 percent fealty to Democrats, and their votes clearly helped get rid of Donald Trump. So it’s fitting that their avatar is the congressional “Squad” led by the ubiquitous 30-year-old Rep. Alexandria Ocasio-Cortez, one of their own.

It’s also undeniable that the ideological cast of millennials, who will be the largest voting block by 2024, will shape our political future. But a closer look at millennial attitudes suggests that the difference between their lives and the lives of their parents is not always by design, and that given the choice, many millennials would prefer to be parents and enjoy family life in the suburbs (and the attendant centrist politics) than be the “heroes” of a left-wing movement.

You can see this in the fact that millennials have been increasingly leaving big cities like New York, Los Angeles and Chicago for more conventional locales, as an analysis of the past decade found. Millennials have spent the past 10 years moving en masse to less expensive, redder metros in the Sunbelt and to the suburbs and exurbs of select Midwestern cities like Columbus, Des Moines and Indianapolis.

Millennials just aren’t the overwhelmingly enthusiastic urbanites that people say they are; big skies and small towns are in high demand for a significant number of younger Americans. Some 26 percent told researchers they would like to end up in small-town or rural America, while another 39 percent are headed for the suburbs. This even applies to better educated workers, nearly 70 percent of whom prefer suburban or small-town living. This pattern is strongest among whites and Latinos, but even among African Americans, roughly half opt for suburban living.

And this desire to leave cities is correlated strongly with marital status. Almost a third of married millennials want to move out to the country—compared to 21 percent of singles. It reflects a political divide between primarily childless, left-leaning urbanites and more conservative or centrist families on the periphery.

Reflecting their geographic diversity, millennials are also proving less uniformly Left than imagined, as Ruy Teixeira, author of The Optimistic Leftist, found; as they age and start families, millennials tend to focus more on economic improvement than abstract notions of cultural or social justice.

A poll of over 1,400 people sponsored by the Los Angeles Times and Reality Check Insights after the November 2020 elections revealed that a plurality of millennials consider themselves centrists. 50 percent are politically independent or lean only a bit in one direction, while another 16 percent are conservative. Just a third identify as liberal.

Read the rest of this piece at Newsweek.

Joel Kotkin is the author of The Coming of Neo-Feudalism: A Warning to the Global Middle Class. He is the Presidential Fellow in Urban Futures at Chapman University and Executive Director for Urban Reform Institute. Learn more at joelkotkin.com and follow him on Twitter @joelkotkin.

Samuel J. Abrams is professor of politics at Sarah Lawrence College and a visiting scholar at the American Enterprise Institute.

Photo: picjumbo via Pexels.