Sounds like they are trying to stir up class envy now.
rent or mortgage. You still have living expenses to pay and while where the money goes is different, the rest of the expenses, medical, fuel, car, food, etc, are the same.
Here in L.A. on the left coast a small single apartment in a decent neighborhood can demand $1,800 a month, while a two-bedroom can easily top $3,500. Utilities not included, and good luck trying to get garage parking.
The cheap money era led to high valuations in the two markets that always “get fat” when cheap money rules.
“Real estate & equities.”
As long as there are buyers with access to debt/credit this position will hold. The “fun starts” when financing bloated assets gets harder & harder, as the bankers get tighter & tighter.
>> In short, renters are in dire straits financially
“You will own nothing, and be miserable.” :-)
Oops, The Great Reset is The Great Epic FAIL. Bye bye Klaus! Have a nice afterlife...
As was the O-BodyMortgage complete exploitation.
RICO
No, there are 2 separate classes.
* 1. Those that actually possess zero Mortgages.
And
* 2. Those that are both property, AND body mortgage.
Look up the derivation of “mortgage”. It means “Death-Grip”.
finally someone is putting all the pieces together.
If you OWN a home or property, inflation helps you, if you don’t... you are screwed.
“Housing: Renters and Owners Live in Separate Economies”
Always have, and always will. This is not “news”, this is, as someone stated, stirring up class envy.
Owners?
SNORT.
In states with property taxes, like NYS, you don’t own your home.
You rent it from Deep State.
And some people we know who’ve been trying to sell are finding out the hard way that while people are willing to pay through the nose to buy the house, they don’t want the confiscatory property tax bills that come with it.
WHAT PANDEMIC MONEY? WE DIDN’T GET A DIME. We paid the house off several years ago, and a new H/Vac system and storm damage resulted in a new roof, upgraded out of our pockets. Property tax doubled. As did the assessment, and insurance, home/earthquake are equal but separate.
Inflation + Wage suppression policies have been wrecking our country for generations.
It’s not good for business when 50% of the population can’t afford basics or buy their products.