Posted on 12/28/2023 6:56:27 AM PST by ChicagoConservative27
On Wednesday’s “CNN News Central,” co-host Kate Bolduan remarked that “2023 was a tough year for the economy” and it was “even tougher for the housing market.” And CNN Business Correspondent Rahel Solomon stated that while mortgage rates will decline in 2024, “it’s not going to be significant,” but it’ll hopefully lead to more listings and help affordability.
Bolduan began the segment by saying, “2023 was a tough year for the economy, to say the least, and even tougher for the housing market. Mortgage rates reached a 23-year high, home sales sank to a 13-year low, add that together with some more, and the ability for people to afford a home hit its lowest point since 1984. Yet, 4.5 million people still bought a home this year.”
(Excerpt) Read more at breitbart.com ...
I thought the problem was we didn’t appreciate Bidenomics enough.
Joe told us so, and told us the problem was we needed to change our thinking and reporting.
Joe Biden is destroying as much as he can
It’s his job description thanks to Puppet Master Manchurian Candidate Barack Hussein Obama
And their New World Order Globalist friends
In 2010 in my 50,000+ community outside Phoenix, most houses were going for $250,000. In 2015, that same house could be had for $100,000. By 2019, prices had crept up to $250,000, and the average house here now is going for close to $400,000. We’re not experiencing a “13-yr low” by any means, so what else is this “journalist” lying about?
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In the 90s, rates were at 12% and higher. I have no sympathy for the whiners today.
Since TX has been invaded by Kalifornicans over the past decade with their wackadoodle ideas, home prices when from a couple hundred K to $1.5 Million.
“We know you’re having trouble paying for groceries and rent, but great news, Biden just gave federal employees their biggest raise in 40 years!”
“a “13-yr low”” refers to the quantity of transactions.
As you correctly note house prices are insane for the transactions that do take place.
The last transaction in my rural (mostly blue collar) CT town was 650K—we had never seen a transaction above 350K before—could not believe it.
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