Posted on 06/27/2024 6:28:48 AM PDT by NetAddicted
We're sure this is fine. Let's keep doing Bidenomics and not trying anything else.
The typical salary required nationwide for homeownership is now $106,500 — a 61% increase from the $59,000 required just four years ago, according to Zillow.
— unusual_whales (@unusual_whales) June 25, 2024
A Community Note points out that's not a 61%, but 80.5%. Even better.
We're literally screwed pic.twitter.com/BecnnCa8jE
— Pumponomics (@ClownPeasant) June 25, 2024
Very screwed.
High home prices are due to rampant inflation on literally everything, combined with lockdown-induced supply chain disruptions, massive insurance and utility spikes and, of course, historically high property taxes. All over just the last 3 years.
All 100% government-induced.
— Erich Hartmann (@erichhartmann) June 25, 2024
All on the shoulders of the government.
Have salaries increased 61% over 4 years to keep up? No
— Ovation NFT Social Platform (@Ovation_Network) June 25, 2024
Nope.
I don’t understand how the Biden administration could say the economy is good when we have statistics like this.
This is in insane jump in price!
— Rebecca V Anti-Communist (@RebeccaAVelo) June 25, 2024
Gaslighting. That's why.
This feels like a more realistic measure of inflation
— Yegor Tkachenko (@yegortk) June 25, 2024
It is. Which is why a lot of metrics are ignoring it.
Transitory
— Cory (@CoryNewspaper) June 25, 2024
Sure. 'Transitory' indeed.
I've been told the economy is fine and I just need to budget better because I apparently waste money https://t.co/MHMpYXG0aW
— Kaya (@sisterinferior) June 26, 2024
Right? This is a winning electoral strategy, for sure.
See?! That proves Bidenomics is working! - Will Stancil https://t.co/ds8GybnlBb
— Physics Geek (@physicsgeek) June 25, 2024
Totally working.
When people say things like, they were better off 4 years ago- they are talking about stuff like this: https://t.co/O8QExJlNs5
— Brittany (@bccover) June 25, 2024
Exactly stuff like this.
The median US income is only $48,000.
“You will own nothing and be happy.” https://t.co/q4sVtFuYqY
— Nathan Carson (@ndcarson) June 25, 2024
Depressing, isn't it?
That means the economy is better than ever, try to keep up https://t.co/KXwQ7DHgkW
— Evan (@EvanMcM) June 25, 2024
It's the best economy ever, Jack!
https://t.co/2t542AFicj pic.twitter.com/RNLec0jPn7
— Luke Adomanis (@LukeAdomanis) June 25, 2024
Pretty much sums it up.
***
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Another great Biden accomplishment. He has given the average working man and woman the incentive they need to work harder and make more money.
Bidenomics…vote Blue Rat…🤡🤡🤡
Build back bitter. DemoRats spin masters will lie and tell us all is better, it’s just that we don’t see it. One has to be a blinded chump to swallow that drivel.
The good news is that rents have gone up as well, so you need an even higher salary just to rent.
Tough for those looking to buy (note: Team Trump when targeting the youth vote), but due to inflation combined with massive appreciation for those already owning.
I guess the loss of economic underpinning for the USD has finally caught up with the Banks. The primary creation of more money is not longer the FED RES managing the economy but printing fiat and government spending. Just in time for the republicans to deal with the fallout of the DNC policies and spending.
Trump - do not fix this. Burn it to the ground and start over. Default. Issue a new currency. Jail the democrats.
Here’s a simpleminded question: why haven’t builders built homes, perhaps not single-family homes, that are affordable to those with ordinary incomes?
And there’s the used homes that come on the market. Must be that the sellers can find buyers at the “unaffordable” prices they seek.
The problem is just interest rates, but the prices themselves.
The obscene deficit spending that the Fed was forced to underwrite sure didn’t start with Biden-Harris, although they share the blame with the warfare spending and phony ‘inflation reduction act’, and other green nonsense.
Check the numbers over the last 15 years.
At bottom the real reason for 99% of our troubles is failure for congress to do their job, namely, make sure we adhere to the spirit and letter of the Constitution including protedting our rights. The Congress is the final arbiter on all matters - look to that body when assigning blame.
There is a two tier housing market...
(1) Those who already own their homes and can upgrade (or downgrade) to homes with all or mostly cash—so the higher interest rates are not a big deal.
(2) First time potential homebuyers currently renting.
Group 1 is doing reasonably well.
Group 2 is toast. Higher rents are crushing them. High home prices and today’s interest rates make homeownership very expensive at best. If they live in a high cost market homeownership of a somewhat decent house in a somewhat decent neighborhood with a somewhat decent public school system becomes almost impossible.
If you try to combine these apples and oranges together with statistics you get useless and confusing data.
“Green” anything is a declaration of war by the elites and wealthy on the middle and lower classes.
If I was not already a homeowner, I would not be able to afford a home. I bought at the very low point in the housing market and refinanced at the beginning of Covid. I’m watching the value of my home skyrocket while I’m sitting on a 3.5% interest rate.
What is twitchy?
Fixed it.
Fixed it again.
Twitchy was started by Michelle Malkin. She sold it, and the gist of it is to highlight intriguing political tweets and/or threads. Some bright people tweet and deserve to be heard.
It’s not incompetence.
It’s intentional.
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