Posted on 02/28/2023 7:05:06 AM PST by Kaiser8408a
US housing is simply unaffordable.
Janet Yellen and The Federal Reserve held rates too low for too long and now we are paying for it. Now, after a massive run-up in home prices, The Fed is raising rates helping make US housing the most unaffordable in history (or at least since the early 1980s).
And negative real wage rate growth for 22 straight months isn’t helping!
(Excerpt) Read more at confoundedinterest.net ...
Trump era spending pushed it along too.
But really when you see: “and he that earneth wages, earneth wages to put it into a bag with holes.” being common in a culture that abuses credit realize that the government abusing credit is simply in kind.
The nation is arguably already under judgment. The rest of Haggai 1:6 is on its way.
“now we are paying for it.”
The common man’s ability to understand monetary policy is hidden under a smokescreen of terminology, the various interacting financial institutions and politicians bobbing and weaving to usually escape blame.
Also, monetary policy usually boils down to buy now, pay later, which puts time between the cause and the damaging effect.
So many opportunities for our leaders to assert ‘I didn’t do it’.
If you think it’s bad now.. you haven’t seen NOTHING yet!
Rents haven’t increased at the same rate at home prices. This is NOT sustainable, and means that rents will be going up DRAMATICALLY in the coming years.
You can’t invest in rental property at the current ratios, you can’t pay your loan with the current level of rents. Things are about to get real bad for renters soon.
If you are a renter, and know you are going to be renting for the next few years. You had better lock in your rates now.
Negative real wage growth? So, DementiaJoe lies every time he says wages have increased? Or have they increased, but less than Bidenflation?
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