Home prices have risen “a staggering 47 percent since the beginning of 2020,” putting “homeownership out of reach for all but the most advantaged households.” Reports Far-left NPR.
“In nearly half of metropolitan areas, you need an income of more than $100,000 to buy a median-priced home, and that was the case in just 11% of the market in 2021…and there are signs that the situation is getting worse,” according to a report from the Joint Center for Housing Studies at Harvard University.
“The monthly cost of a median priced home in the United States is [when adjusted for inflation] This is the highest level since data was first collected more than 30 years ago.”
Naturally, the taxpayer-subsidized welfare queens at NPR are unable to shift the blame where it belongs: onto con man Joe Biden. Instead, all we hear about is the “COVID-19 pandemic.”
Now, ask yourself this…
Did the coronavirus do the following or did Joe Biden…
… Federal spending has skyrocketed by trillions of dollars, devaluing the dollar and creating an inflation crisis not seen in generations?
…to combat this inflation, it forced the Federal Reserve to raise interest rates, which resulted in mortgage rates 2.77 percent Under former President Trump 6.9 percent To understand just how devastating rising interest rates could be today, consider this: At Biden’s 6.9%, a $300,000, 30-year loan would have a monthly mortgage payment of $1,984. At Trump’s 2.77%, the same $300,000, 30-year loan would have a monthly mortgage payment of just $1,228.
… Will we open our southern border to some 10 million illegal immigrants vying for housing that is already in short supply?
… Are we going to intentionally shut down domestic energy production, cause energy costs to skyrocket, cause the cost of everything to skyrocket, exacerbate inflation, and then raise mortgage rates to fight that inflation?
Another negative effect of Biden economics comes from people holding on to their homes longer than normal. No one sells their home in this market unless they are forced to, because that means buying their next home at a 7 percent interest rate. Instead, people hold on to their homes and wait for interest rates to fall. This means fewer homes on the market, and fewer homes means higher prices. Scarcity benefits sellers, but not buyers.
Young people, you need to keep this in mind. This is by design: Democrats despise the middle class. Why? Because unlike the poor and dependent, we are content and don’t want a revolution. And unlike the wealthy, we don’t care about status, so we don’t try to conform in order to get by. We just want to be left alone.
You can be happy without owning anythingIt’s a Democratic slogan, but… Owning a home is the cornerstone of your future independence. Owning a home is the foundation of your retirement and the key to your ambition. That home is your own personal bank, and you can invest in it, borrow against it, or sell it when you’re ready for a change.
Two things that ensure poverty are not owning a home and not marrying.
Democrats want people to be poor and dependent, so at the local and federal levels they are trying to make homeownership, once a goal of the working poor, out of reach of all but the “privileged.”
It’s not just interest rates and an open southern border that are making homeownership impossible. Democrat-run cities and states oppose the construction of new housing. They claim it’s for environmental reasons, but the truth is, Democrats want to keep people poor and dependent.
John Nolte’s first and last novel Borrowed time, Winning 5-Star Rave Reviews Submissions from our everyday readers. You can read excerpts here here And a detailed review here. Also available in hard cover and Kindle and Audiobooks.
