It’s a different time we live in. One may be used to kids moving back in with mom & dad, however now we are starting to see parents in foreclosure moving into one of their grown kids homes.
Today I saw an interesting sight. In the above photo, a middle aged man wearing a suit and tie, holds a sign that says: I NEED A JOB, OR I WILL BE HOMELESS BY MAY 5TH. CAN YOU HELP?
Men Hit The Hardest
On my way to work I see men jogging with their kids in strollers. My wife tells me that more men are dropping off their kids at school in shorts and a t-shirt. Please consider Business Week’s article below:
Men, concentrated in the weakest sectors, are losing jobs in this downturn, while women make gains
They eat from the same dishes and sleep in the same beds, but they seem to be operating in two different economies. From last November through this April, American women aged 20 and up gained nearly 300,000 jobs, according to the household survey of the Bureau of Labor Statistics (BLS). At the same time, American men lost nearly 700,000 jobs. You might even say American men are in recession, and American women are not.
Of the nearly four million who have lost their jobs since the recession began, 78% are male. And some sociologists say that they’re hurting more than women.
Men are losing jobs and their pride.
It strikes a deep chord in me as a man that this guy (pictured above) is so desperate for a job that he has been holding this sign every day for several weeks and still nothing. He said there were telemarketing jobs and pyramid schemes, but nothing concrete in his field. A man’s work is his pride. One of the 1st questions 2 men who’ve just met ask each other is “what do you do?”. In our culture, we’ve been conditioned to think if a man doesn’t have a job he’s “a loser”, He’s nothing. One man admits: “I start questioning my self-worth and am I making good decisions,” and then I start second guessing my other decisions and it starts eroding my confidence.” This is very common in men who can’t find a job.
Overqualified
At YouWalkAway.com we get a ton of resume’s. It’s hard because a lot of the resume’s are from very overqualified people. I think to myself… This person is going to definitely need more than $13 – $14 an hour. In addition to a higher salary demand, I think, I just want to train someone who is motivated from scratch and not deal with any egos.
Being overqualified for a job seems to be an odd reason for not getting hired, but it’s a reality. With cut backs in many industries, there are plenty of people in just this position. Account Managers, Sales Professionals, and even executives are finding themselves out of work. For a senior officer with many years of high level work experience at a high salary it can be even more difficult to find employment than younger workers who have lost their jobs.
One of the largest fears that employers have with overqualified applicants is that they will only be in the position for a short amount of time or get bored quickly. Employers do not want to spend time and money training a worker who will soon find a job more in line with their experience and leave the position.
I think of all the single Dad’s out there who lack retirement funds getting stuck jobless or working part time at a retail store. Unable to afford their big mortgage and credit card payments, they move in with one of their grown children to figure it all out… What else are they supposed to do?
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{ 5 comments… read them below or add one }
Recessions do not only bring about tough times financially. Sadly, they set men against men and raise moral issues that most of us would rather not have to consider.
Its a very tough position to be in.
I never really thought that someone could grow old and get poor, It always seemed like our parents got old and more secure.
I guess you’re lucky if you have strong enough ties with your kids to have them allow you to move in with them. Some families arent that close so that might not be an option for many people. Sure makes that harmless Chuckee Cheese or family vacation look like a good idea now….
In 2005, I moved up to Illinois to be closer to one of my daughters. She was going to go to nursing school. I am a nurse, so I thought I would try to help with the kids and all. I bought a home here in Illinois and rented my Florida home for two years. My daughter never ended up going through with school…she had another child…and I found myself living in Illinois…entrenched in a job, etc…so the market in 2005 in Florida…my home had a value of $249,000. My neighbor’s home sold for $259,000 or thereabouts. I didn’t sell at that time…I thought I would be going back. 2009…My neighbor’s home has dropped to $154,000 and so he was in to it negative 94,000….it went into short sell and eventually foreclosure. So, my home that was valued six months ago at 175,000…because a home was sold in foreclosure for $154,000…now makes my home worth $151,000….my mortgage (1st and second) is $160,000….and so the decline continues. To keep or walk away…that is the question….everyone loves Florida! Everyone loves to vacation there. I have held on to my home by allowing it to become a vacation rental…it has paid the mortgage and all the bills to keep the home clean, with a nice pool, air conditioned, etc…but it is harder and harder now that people are unemployed and the LAST thing they are thinking about is going to Florida for a vacation!!!! I don’t know what to do. I thought about holding on and biting the bullet so to speak….but after reading your blog post about the equity and how long it might take to climb…I just don’t know….I have even thought of refinancing to someone who has the funding…and offer them in addition to my paying back a loan of say 5% on 160,000…I also offer them a month in Florida every year for a set term….What do you think? Do you think I would have any takers? Thanks…Miriam
Hi, very nice post. I have been wonder’n bout this issue,so thanks for posting
We are seeing parents forces to sell their homes and move in with loved ones due to hospital bills, lost jobs, and foreclosure in our community. A sad day in the life of the Realtor…at least it is with me. I hate to see anyone have to give up their dignity.