Posted on 01/30/2024 2:51:38 AM PST by davikkm
The United States is grappling with a mounting housing crisis as median three-bedroom rents surge beyond the reach of average local wages in 197 out of 338 counties, according to ATTOM. This alarming trend aligns with the broader economic challenges facing individuals and families as housing costs outpace income growth.
Both rents and real estate prices have experienced significant escalations, far outstripping the pace of wage and salary increases. The consequences are particularly felt by younger generations, who have been hopeful for a real estate market correction to ease the burden of soaring housing costs.
(Excerpt) Read more at citizenwatchreport.com ...
You can have Affordable Housing or Open Borders. You cannot have both.
You cannot import 2 million people a year when you are not building enough housing without making a crisis.
No big deal. It’s just a government infiltrated by Marxists, planting the seeds of a socialist revolution.
It won’t work out the way they planned.
We also have rich foreign nationals and foreign governments buying up property, as well as corporations.
NC ins cos have requested a 99.4% increase in our property insurance. Add in an increase in wind and hail insurance (required here on the coast) and factor in that we will be getting a new tax assessment this year - gee, you’d think someone was trying to make home ownership unaffordable for some reason.
See: England where elderly veterans and pensioners are routinely thrown out of their rentals to make way for migrants.
If only the Biden administration could explain Bidenomics better.
Corporations and foreign nationals buying up American property coupled with endless waves of immigration without a lot of new property being built.
In the small towns near where my boyfriend lives in Southwestern PA, all the cheap houses are being bought up by landlords to rent to illegals, paid for the U.S. government.
bkmk
99.4%??? I thought this stuff was only happening in Florida. Mine went up nearly 50 percent this year, and it wasn’t cheap to begin with.
This is why ONLY the ELITES think fjbeconomics is working!
My nc reassessment for my home went from 400 to 700k. I like millions of others are on fixed income so it’s not just insurance and every other cost.
Ditto - my home was just reassessed up, nearly 50% - how can people re-elect this guy
Everything is outpacing wages.
My homeowner’s insurance went up 70% this year in SC.
There are empty commercial office buildings in EVERY city big and small across the US. Buildings that are not empty are 30-50% full.
What the government can do is help in the regulation process to convert many of these buildings from a commercial to residential occupancy. Streamline the process and the owners will do the rest.
But....but.....Corporate Media says the economy is great.
Many commercial buildings are in crime ridden downtown big cities.
The conversions may look nice and shiny but within ten years they will be slums.
Ditto - my home was just reassessed up, nearly 50% - how can people re-elect this guy
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“Nursing Home” Joe isn’t getting re-elected....... He’s Toast.
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