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Politics & Religion / Housing/Real Estate, Mortgage Purchase demand down 57% under Biden
« on: Today at 05:50:29 AM »
https://confoundedinterest.net/2024/05/08/thats-bidenomics-us-mortgage-purchase-demand-applications-rise-2-over-past-week-but-remain-down-17-since-last-year-and-down-57-under-biden/
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(Doug) Housing is now unaffordable. Try spinning that in a positive way. People can't sell. People can't buy. Higher interest rates are only part of it. The people who need housing the most don't have full time jobs.
But mostly, the nation's most highly taxed and highly regulated industry is dysfunctional. Who could have seen this coming? What is the plan to fix it? There is no plan to fix it.
This is a good example of why the majority have no confidence in this President to manage the economy. Much of the problem comes from blue cities and blue state's having bad policies, but the the leadership stinks from the head.
Shortage of houses? I have empty houses I would happily trade for cash. But not if a third or half the proceeds go to the government on a "capital gain" that is really just inflation.
My property taxes cumulatively are now at roughly twice what I paid for the home. How much of that goes to DEI and wasteful social programs and how much goes to finance funding of essential government, roads and classrooms? It all goes to making housing more expensive, less affordable.
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Here's more:
https://www.cnn.com/2024/05/08/investing/premarket-stocks-trading/index.html
"For US renters, the chance of owning a home is going from bad to worse."
Mortgage rates over 7.2%, going to 9%, then going over 10%.
This is CNN.
(Doug) A lesson from history, Jimmy Carter had one term only.
Second lesson from history. Voters gave Reagan a Democrat House, and the recession that followed inflation was painful. Don't do that with Trump 2024 if you want policies and solutions.
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(Doug) Housing is now unaffordable. Try spinning that in a positive way. People can't sell. People can't buy. Higher interest rates are only part of it. The people who need housing the most don't have full time jobs.
But mostly, the nation's most highly taxed and highly regulated industry is dysfunctional. Who could have seen this coming? What is the plan to fix it? There is no plan to fix it.
This is a good example of why the majority have no confidence in this President to manage the economy. Much of the problem comes from blue cities and blue state's having bad policies, but the the leadership stinks from the head.
Shortage of houses? I have empty houses I would happily trade for cash. But not if a third or half the proceeds go to the government on a "capital gain" that is really just inflation.
My property taxes cumulatively are now at roughly twice what I paid for the home. How much of that goes to DEI and wasteful social programs and how much goes to finance funding of essential government, roads and classrooms? It all goes to making housing more expensive, less affordable.
----------
Here's more:
https://www.cnn.com/2024/05/08/investing/premarket-stocks-trading/index.html
"For US renters, the chance of owning a home is going from bad to worse."
Mortgage rates over 7.2%, going to 9%, then going over 10%.
This is CNN.
(Doug) A lesson from history, Jimmy Carter had one term only.
Second lesson from history. Voters gave Reagan a Democrat House, and the recession that followed inflation was painful. Don't do that with Trump 2024 if you want policies and solutions.