Posted on 08/07/2024 9:47:50 PM PDT by where's_the_Outrage?
Four years after the pandemic-era housing boom, the real-estate market continues to face instability.
With ongoing affordability challenges exacerbated by high interest rates and inflated home values, housing is a major concern for Americans across the political spectrum.
In a Tuesday interview with Fox News, Republican vice presidential candidate JD Vance shared his perspective on the root causes of the nation's high home prices and rents.
"When I talk to Americans, one of the biggest concerns I hear is, 'Why are housing costs so high?' I'll give you two reasons: First, there are 20 million illegal aliens who shouldn't be here and who are competing with Americans for scarce homes," Vance told Fox News host Sean Hannity, adding, "Second, Kamala Harris has supported higher interest rates, which makes mortgages unaffordable for most people."
Daryl Fairweather, chief economist at real-estate listings and research site Redfin, disagrees.
"The reason housing costs are so high is straightforward, a lack of supply," Fairweather said in a post on X, formerly Twitter, replying to a user who shared a clip of Vance's interview. "I wish pundits would get to the point and ask candidates, 'How do you plan to increase the supply of housing?'"
(Excerpt) Read more at businessinsider.com ...
1. The Government - Property Taxes. Some property taxes add $500+ a month to payments.
2. The Government - During Covid landlords could not evict non payers, but were still required to pay taxes.
3. The Government - Rent control, subsidies, and squatters all are against ownership.
And probably the next 3 are also the Government.
People worldwide are also buying up homes and leaving them empty, in order to park their money to hide it from their own countries.
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+ Schools are Failing and Dangerous
Dump kids that can’t speak the language and use all resources available in a Country $35 Trillion in Debt.
Add twenty million people while building is prohibitively expensive, and yes, there will be shortages.
And migrants flock to the least expensive, giving one more gut punch to America’s lower and middle class.
Increased demand causes prices to rise.
Illegal aliens increase demand for housing, so rents rise.
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She’s analyst at Redfin, where they are struggling hard to avoid bankruptcy. And JD says 20 million illegals are flooding into the available housing, like Gilligan, she says she disagrees... that the problem is that the supply is too small.
That is exactly what JD was pointing out.
Why are housing prices so high?
Printed, fiat money, created ex nihilo by the Federal Reserve, and the massive Fed.gov debt/spending it supports.
I was going to say does she even know what he’s talking about. Obviously not. If you increase the amount of people competing for a home that is going to raise the price of the home. She isn’t exactly a rocket scientist
As soon as I see “Business Insider” I assume it’s Fake News.
4. 20m illegal foreigners forcing upward pressure on housing costs.
The good news is that they are starting to tilt so those who "invested" will not be doing so well.
Fixed for you:
4. The Government - encouraging 20m illegal foreigners forcing upward pressure on housing costs.
The 2010 bailouts that allowed investment corps to snatch up single family homes. Blackstone is likely the most infamous.
Who else has a million in cash to buy a home.
You will own nothing was not a threat. It is a well planned takeover that is being executed.
If not the reason, it’s one of the big reasons. Whenever you have government subsidizing anything, the price goes up.
Redfin is chugging along at 6 bucks a share, almost penny stock status.... she’s their big analyst. Hard to see why anyone would listen to her.
He is right.
20 million people removed would free up housing, guaranteed.
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