boomers fighting me for my job

Sometimes it helps to get back to the fundamentals. Michael Shedlock has shed some light on the implications on the housing market as a result of boomers staying in the work force.

# The labor pool participation rate will stay elevated instead of contracting as much as one might have thought. In turn ...
# The unemployment rate will stay elevated longer than economists think.
# Kids out of college will have a harder time finding jobs.
# Kids out of college will be forced to move back in with their parents.
# Kids out of college will have no way of paying back college loans.
# Parents who co-signed for their kids education will come to regret it.
# The above factors will pressure discretionary spending of both boomers and those just out of college.
# Those out of college will postpone family building.
# Postponement of family building will further pressure housing prices.
# Bankruptcies, foreclosures, credit card defaults, and walk-aways will continue longer than economists think.