It’s tough to buy a home when you have a Democrat partisan at the Fed holding interest rates higher than they should be based on (A) economic “experts” who are wrong more than right and, (B) a Fed chief whose interests lie in an equitable global economy and not a thriving US economy.
There are plenty of bargain priced homes in rural areas, but rather than live in their own home, they'd rather pay rent so that they can live close to Starbucks, in a vibrant multihued neighborhood of rainbow colors, strange smells, and odd noises.
sounds complicated
First of all, we should ask if Gen Z really does face a “housing affordability problem?”
If so, what exactly are the causes?
And what is Fed.gov supposed to do about it? Fed.gov doesn’t build massive complexes of state-owned, cement apartment buildings like the Chinese Govt - at least not yet anyway. Maybe that’s coming
So does the GOP instead just create and fund more corrupt half-measures and spending to be filtered through left-woke city governments for “affordable housing,” just like everything done in the last 70 years?
“”There’s very low trust of institutions and the institutions have failed them,” Kirk told Fox News Digital.”
If you really want a home you will work hard, save money and buy one. I bought my first home when mortgage rates were 13%.
Getting Wall Street out of the home ownership business would be a good start.
Will the democommies be believed that they can fix this? They’ll say they can and never even make an attempt.
In 2028, Gavin Newsom’s “solution” is going to sound better - whether it actually works or not. Mamdani should be the warning. Fortunately, J.D. Vance gets it and has time to get credit for the two major fixes needed: deport as many illegals as possible and build new inventory despite the screams of NIMBYs.
Getting rid of 10s of millions of illegals should help lower prices since we would more supply and less demand
Individual states could limit the amount of single family homes investors could buy I guess.
“If we don’t fix the homeownership problem in this country, the cost-of-living crisis, and if we don’t give the next generation [a chance] at being owners and not renters, we are going to see what I call ‘Mamdani-ism’ spread across the country,” he predicted.”
Idiot. Bush Jr. tried to do EXACTLY what he’s talking about (remember “Ownership Society”). Instead he gave us 2008 and smooth path for Obama to take the White House.
I’m a huge fan of Kirk, but I don’t know his plan for solving the housing crisis. Whatever his plan, I hope it’s not a lending system based on equality goals like it was back in 2008. Lending to unqualified borrowers looked good in the short run, but eventually saw the pyramid of unqualified loans crumble into a real estate crash that sent shock waves through the entire financial system. Learn from your mistakes, people, or be bound to repeat them.
Part of the problem is that many feel they have to have 2000+ sq. ft., 2-car garage, in an ideal location. Oh, and it has to have top of the the line everything (fixtures, appliances, etc.) in order for it to be livable.
The first home my wife and I purchased was a 3-bedroom on .75 acres in Danville, VA. We paid $98k for it. But that’s not what the younger generation wants. They want the immediate gratification. We’re now in our 8th home, but I still don’t believe in living beyond my means or buying a home just to impress someone.
“The biggest threat to the Republican Party in 2028 is if we do not deliver on our promises of [home]ownership for the next generation,”
How ungrateful! They are getting a war with Russia, war with Iran, Epstein finally swept under the rug, Palantir digitizing and organizing their entire digital existence, and Elon flipped the finger for suggesting the most qualified NASA Director ever, including Werner Von Braun.
And now they want to be able to buy a house? Sheesh... selfish pricks.
All the illegals getting home mortgages from BOA and other pinko lenders and running prices up has nothing to do with it. /s
“””If we don’t fix the homeownership problem in this country, the cost-of-living crisis, and if we don’t give the next generation [a chance] at being owners and not renters, we are going to see what I call ‘Mamdani-ism’ spread across the country,” he predicted.””
With all due respect to Kirk... home ownership is NOT the biggest threat to Republicans OR that this nation faces right now. That being recovery of the decimated economy by the previous Democrat administration (as usual). With a thriving economy...ie plenty of jobs, higher wages, increased income, etc.... comes the ability to purchase homes.
Therefore, repairing the economy is THE main problem we face re: “home ownership”. Remember how the Democrats solved that “problem” by forcing banks to lend home loans to minorities that would never be able to repay those loans. Which further damaged the economy by melting down the mortgage loan industry. Let’s not go off the down that same “Jack@ss Lane” road.
Bottom line...”Mamdani-ism” (communism) will only spread if the economy is not improved under Trump, resulting in the Democrats winning their power back in 2028 (and control of Congress in 2026). Powell needs to be shown the proverbial door, and a non-partisan with a working brain cell put in that position, so that interest rates can start coming down again. That’s a first step.
Here’s the problem:
Wall Street has purchased hundreds of thousands of single-family homes since the Great Recession. Here’s what that means for rental prices
https://www.cnbc.com/2023/02/21/how-wall-street-bought-single-family-homes-and-put-them-up-for-rent.html
Gen Z is just waiting for their single mom to croak. The they inherit the house and move upstairs.
EC
I don’t believe the next generation WANTS to own homes. From what I can see, they don’t care. They want the most spiffy devices and gizmos and don’t want any responsibility beyond that.
Trouble is, homes WILL be bought — by other people and entities who have America’s destruction as their goal.
You solve that by purging the 50 million-plus illegals here.
Trump is the only President to deliver on his promises.
Eat it GOP Hack.🤡
Your Texas flooding narrative fell apart didn’t it.
Trump 👍🇺🇸
You need a real job to afford a home.
The GOP can’t force people to get real jobs