Posted on 12/19/2023 2:41:03 AM PST by davikkm
The dream of homeownership in the U.S. is fading as the math for buying a home undergoes a significant shift, according to a recent Wall Street Journal report. The Federal Reserve’s decision to raise interest rates has had a profound impact, making homeownership a distant goal for many Americans, even those who were financially within reach just a few years ago.
While the pandemic already inflated home prices, low mortgage rates provided some relief. However, the landscape changed dramatically as the Federal Reserve raised interest rates to combat inflation. With rates now higher, the dream of homeownership has become less affordable than ever in recent history, and prospects for improvement remain dim. Predictions indicate that home prices are unlikely to return to pre-pandemic levels, and the Federal Reserve has shown little inclination to reverse its aggressive interest rate policies.
(Excerpt) Read more at citizenwatchreport.com ...
Even in my rural area, nothing is being built for less than $350K.
Don’t worry. When the real estate market inverts, it’ll be the evil land holders (excluding Black Rock and Vanguard) that are to blame.
It is all in the plan. The elites do not want anyone to have housing beyond a cube like a cage.
Rule #1: The elites want you dead.
Don’t blame the Fed. They have to try to manage the money supply while the Hussein O’Biden administration and Congress run monumental fiscal deficits. An impossible task.
On a good day the Fed prints $500,000,000. The debt accumulates over $2.7 billion a day. Yes, the GOPe and dems (aka uniparty/deep state) got us to this point.
Locally the teardown, rebuild business continues apace. Builders buy homes in the $500-$800 K range, tear them down, build a McMansion, and sell them for $1.5M or more.
Well. The obvious answer is to have taxpayer-guaranteed loans, to people who cannot make payments, specifically “disadvantaged” people so they can achieve the “American Dream”.
Yeah. We should dig up the 1977 Community Reinvestment Act and...what?
Oh, right. That was baked into all future legislation so we don’t need to dig it up. We simply need to take what is there and put it on steroids.
We need to do this to protect the housing and construction markets!
/s (yes, this is how they think)
America is going from Green Acres to Gang Life. Thanks Obama.
Everybody here should have realized immediately that when Brry the Muslim was installed, it literally was the beginning of the end of America. Trump caused a brief pause in their plans and as you can see Biden has been doubling down in an effort to regain lost ground. Donald Trump might be able to save us, let’s all hope so.
The fhalf trillion a year in free money for illegals is really helping inflation too.
I know. Bring in tens of millions of illegal aliens and have the taxpayer put them up in available housing. That will help....l
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