Posted on 11/08/2022 7:50:06 AM PST by george76
Biden’s magic trick was to turn the economy into a train wreck.
Example? The 30-year mortgage rate was 2.88% on Biden’s inauguration day (January 20, 2021). They are now 7.32%, a 154% increase under Biden.
...
The US economy is suffering from knucklehead energy policies, reckless Federal spending and rampant inflation.
Joe Biden doing economic magic tricks, turning a vibrant economy into an inflation-ravaged one.
Good.
my first mortgage was 10%
Too much stimulus under Obama and Yellen, then they doubled down with Covid. REALLY need to withdraw the excessive stimulus, but there are consequences ... like rising mortgage rates and declining home prices.
There was a lot of talk about how the bankers were bluffing, and because of the federal debt they wouldn’t be able to continue their interest rate hikes.
Looks like they weren’t bluffing.
“Looks like they weren’t bluffing.”
Yes, that fantasy was entertaining.
Congress passes $4.6 TRILLION in needless spending in less then 18 months and raises interest rates sky high and wrecks millions of peoples savings and retirements and plans to buy a home for many years to come.
Under 30 voted for the Dem’s by a +28 margin, according to exit polls.
Could be true or not.
I remember reading a comment, an original meme if you will....Everyone is a liberal until they buy a house.
Well, given that the under 30 crowd doesn’t believe in ownership of anything, 7%+ interest rates doesn’t bother them as they have no intention of ever owning a home, they’re all making money in advertising, IT, working in non-profits and consulting that they can afford a home or the ever increasing rents.
And, since the Left still controls academia, more and more folks that think like them will continue to be pumped out.
And voters love it.
Because of your credit or that was a decent rate?
How do home values/prices back then, compare to the insanely inflated values of homes today as they relate to incomes?
There is some more information needed to justify your statement as if it is something to brag about.
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