The biggest problem I see from where I stand and from my observation of last few years: Flight of high paying jobs.
I have been observing the outsourcing of jobs to low cost countries. Wherever I worked in the last 10 years, I see the jobs going away to low cost countries. These are high paying jobs which pays upward of 100K/year
My friends in the hi tech center are working more and more hours for lesser pay to justify their salaries. Initially, it used to be the bottom of the barrel jobs shifted out but not people from low cost centers are getting the best projects.
I hear all the job reports and the rosy picture but I don’t see that happening.
In SD, the hospitality, retail and construction sector jobs are not well paying all, They don’t pay north of 100K.
I am not an expert on anything related to economy but I could see the housing bust coming in 2007 and was lucky enough to buy a SFR for me at the bottom. Although a lot of people told me to buy in SD in 2007 because SD home prices never go down and this time is different theory.
From where I stand and with my limited knowledge/experience, I see the middle class evaporating from this country faster n faster now..
