Posted on 07/20/2023 7:56:16 AM PDT by Kaiser8408a
Wasting away again with Bidenomics.
US existing home sales crashed by -19% in June, the 23rd consecutive month of declines.
At least the median price of existing home sales is decreasing as Fed stimultypto vanishes. Just like inventory for sale has vanished.
The face of Bidenomics, code for Federal government reckless green spending. And Biden family members receiving over $10 million from foreign agents.
(Excerpt) Read more at confoundedinterest.net ...
My area is down from the peak but trending up last few months on Zillow.
When you overstimulate the economy, you have to slow it down with rate hikes, and that does lead to some casualties. Biden’s March 2021 stimulus bill was excessively huge, and stimulated a global inflationary bulge that the global economy is now dealing with.
Unfortunately, YoY real-estate tax revenues have gone up, for many municipalities.
As home prices go up, so do real-estate tax revenues, which are calculated on the existing value of homes. Many people are having to abandon their homes because they can’t keep up with their higher real estate taxes, and of course, their rising home insurance prices.
“negative growth” - is that oxymoron the same as “decline”, or “shrinkage”?
Do we also have “positive decline”?
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