Posted on 08/28/2023 7:10:12 AM PDT by Kaiser8408a
We are livin’ la vida Bidenomics!
The 30-year conforming mortgage rate is currently 7.23%, up 161% under Biden and Bidenomics (code for massive Federal spending on green initiatives that go to large Democrat donors and Ukrainian oligarchs). Meanwhile, M2 Money supply is up 9.4% under Biden.
At the same time. home prices are UP 26% under Biden while Real Median Weekly Earnings are DOWN -5%.
On a sad note, it looks like The Federal government is starting to rattle its Covid saber just in time for the 2024 Presidential election. Odds are the US will ramp up online voting, early voting, etc. Think of John Fetterman (aka, Walter White’s twin brother) and the Pennsylvania voting experience.
(Excerpt) Read more at confoundedinterest.net ...
Whispering: “It’s working.”
“M2 Money supply is up 9.4%”
What could go wrong?
Sucks for my kids-—we had this discussion on Saturday. Buying a home for them is almost impossible. Even though they all make good $$$——They’d have to come up with $80K if they want to buy a house in the North East. Heck, rent is $2000 per month for an okay apartment in NJ.
My daughter worked for a mortgage company...they retired her at age 60....two years before she intended to retire. None of the ale VPs were let go.
If we compare incomes and home prices nowadays, compared to such ratios decades ago, clearly younger people have a much harder time buying a house than older generations did.
The so-called “starter homes” are out of reach of many nowadays. And then, as noted, with rents being so high, it makes it that much more difficult for people to save up for the down payment on a house. Paying much more in rent in proportion to incomes, than previous generations did, makes it much harder to save money.
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