Cabrini-Green part deux?
On the contrary, he has done far more to advance his constituent's agenda than any other President in modern history, and is hell bent on breaking the USA beyond repair by the end of his first term.
You’ll own nothing…and be happy!
I love the picture of Janet Yellen at the slot machine on the header picture from Confounded Interest.
In reality the US has a huge shortage of housing. Which is why most housing markets, with the exception for places like Nashville have held over the last six months. There are NOT enough houses available for the current demand.
This is especially the case in the northeast and midwest. There is a shortage of apartments and smaller retirement type housing.
Our country demographically is getting older. We are not in as bad shape as Italy, Japan or South Korea but the Baby Boomers are all retired or with 5-7 years of retirement. So, most of these Boomers are looking to downsize(like me).
This is increasing the demand for smaller houses, condos and apartments.
Apartment prices in many cities are over $2500-$3000 for a two bedroom apartment. There is a shortage of apartments in most metro areas.
This is also being caused by the Millenials not getting married and having kids like the Baby Boomers did. IF you do not have kids, you are less likely to move to the suburbs that have the better schools. If you do not have kids, you do not care about the local school system.
Unchecked immigration leads to higher housing prices/rent. Imagine that.
Every time somebody whines about a housing shortage, I note apartment like condos going up like daisies, with lower occupancy than China. It’s almost like somebody is prepping the US to get an enormous inflow of foreigners that need housing. Has anyone else noticed this?
Near my house a developer is building a 10o unit condo neighborhood. A few months ago the units were on sale for $195k. Now the for sale signs are gone, replaced by for lease. There is no way a rental payment in the present market can cover the in envestment cost