Simply Unaffordable! Mortgage Demand (Purchase Applications) Fall 14% Compared To One Year Ago While HUD Energy Rules Will Add Up To $31,000 To New Home Prices (Payback Time Is 90 Years)

Confounded Interest ^ | 05/01/2024 | Anthony B. Sanders

[Kaiser8408a]

Housing in the US is simply unaffordable, particularly after HUD levied new regulation rising the cost of new housing up to $31,000. Wait for this to kick into the data for mortgage demand!

Mortgage applications decreased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 26, 2024.

The Market Composite Index, a measure of mortgage loan application volume, decreased 2.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1.4 percent compared with the previous week. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier. The unadjusted Purchase Index decreased 1 percent compared with the previous week and was 14 percent lower than the same week one year ago.

The Refinance Index decreased 3 percent from the previous week and was 1 percent lower than the same week one year ago.

How is the Biden Regime making homeownership more affordable? They aren’t. The are using regulations, to drive the cost of new housing way up. New HUD energy rules will raise the cost of home construction by imposing stricter building codes. The National Association of Home Builders says the energy rules can add as much as $31,000 to the price of a new home. Payback time is 90 years (how long it will take the recoup the initial investment).

Under Biden’s “leadership” we are all addicted to gov. But at least Ukraine and Zelenskyy will be getting a guaranteed 10 years of financial support from the US … while E Palestine Ohio and Maui remain destroyed.

[SaveFerris]

I can’t even live that dream anymore

So I’m hoping for a Dutch politician girl, LOL

Or maybe one of the robots that Laz picked out

[SaveFerris]

Most of our politicians in D.C. have betrayed us all. /Captain Obvious

They got theirs, off the taxpayer’s back and special interest groups.

They really, really, really don’t care about the rest of us.

See ya at the bill signing!

[GOPJ]

If you don’t pay your obligations on anything you’ll lose it. Same with a car - if you don’t make your payments you lose your car. Why would it be different if you didn’t pay the taxes on your home?

Also, Biden’s planning on raising capitol gains taxes to over 40%.

That means if you sell your home you’ll pay almost half your profit to Uncle Sam. How do you think that’ll effect sale of existing homes? People will ride it out until a sanner President can make changes.

Biden’s a fool or he’s evil or stupid. Any guess which one or are you only into trashing Republicans?

[i_robot73]

>
If you don’t pay your obligations on anything you’ll lose it. Same with a car - if you don’t make your payments you lose your car. Why would it be different if you didn’t pay the taxes on your home?
>

Excepting the car/home is PIF...What ‘obligation’ does one have after??

>
Also, Biden’s planning on raising capitol gains taxes to over 40%.

That means if you sell your home you’ll pay almost half your profit to Uncle Sam. How do you think that’ll effect sale of existing homes? People will ride it out until a sanner President can make changes.
>

“Planning” (unless it’s passed via Congress it’s nothing). & yep, ride it out. And??

>
Biden’s a fool or he’s evil or stupid. Any guess which one or are you only into trashing Republicans?
>

I/we KNOW Biden is. Evil & stupid is the (R)N(C) base voting for those whom do NOTHING vs. Biden *shrug*. So, which are YOU (or both)?

[GOPJ]

Also, Biden’s planning on raising capitol gains taxes to over 40%. That means if you sell your home you’ll pay almost half your profit to Uncle Sam. How do you think that’ll effect sale of existing homes? People will ride it out until a sanner President can make changes.

People can still sell their homes THIS year (2024) and avoid Biden's increase. What will Biden's 40+ capitol gains tax do to housing? It'll make people stay in their homes (ride it out) unless they have to sell... and when that happens they'll be screwed over by Biden. I suspect this was one more way for Biden to damage the country... and/or hurt Trump when Trump takes office. And if Biden cheats to win again - it'll be just more pain that Biden and his goons inflict on the American people.