“Mortgage rates are climbing above 3 percent, while gas prices are skyrocketing—increasing more than 50 cents per gallon, with no end in sight. There is a global shortage of computer chips, generators, and houses. America’s housing market is nearly 4 million homes short of buyer demand, undermining the career prospects of Millennials and other generations.”
This guy is totally clueless. Mortgage rates climbing above 3% is somehow a disaster? I bought a home in 1968 and took out a 20 yr mtg at 6% and I was an employee of the bank.
Rates are rising because demands for Homes (and mortgages) is way outstripping supply. The rule of supply/demand at work here.
Gasoline is selling for $2.59 here in SC. Adjusted for inflation from 1960 when Gasoline was selling for about $.30 per gallon gasoline would cost $2.71
Shortages caused by the lock down will end and we are already seeing this. As far as this guys call for a recession? We are always either going forward towards one or coming out of one.
It’s called the business cycle.
Gas was over $4 when W was president.