Bidenomics: 2023 was the slowest year for US home sales in 30 years

[Lesh]

Biden told putin that nato was considering letting Ukraine join nato. So Putin had really no choice, because if they did join nato. We could put troops on their border. Do you people not pay attention to what your leaders are doing? Biden wanted this war.

He did? Link and quote…

 

[bigrebnc1775]

Bidenflation and the DemoKKKrats' disastrous interest rate hikes are preventing people from buying homes.

Younger and minority buyers are feeling the most pain, as with all Biden policies.



LOS ANGELES (AP) — Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low, as sharply higher mortgage rates, rising prices and a persistently low level of homes on the market combined to push homeownership out of reach for many Americans.

The National Association of Realtors said Friday that existing U.S. home sales totaled 4.09 million last year, an 18.7% decline from 2022. That is the weakest year for home sales since 1995 and the biggest annual decline since 2007, the start of the housing slump of the late 2000s.

The median national home price for all of last year edged up just under 1% to record high $389,800, the NAR said.

Last year’s home sales slump echoes the nearly 18% annual decline in 2022, when mortgage rates began rising, eventually more than doubling by the end of the year. That trend continued in 2023, driving the average rate on a 30-year mortgage by late October to 7.79%, the highest level since late 2000.

But but but the economy is supposed to be booming
Best economy ever ain't that right JoeB131 Golfing Gator

 

[pknopp]

He did? Link and quote…

It was all over Ukraine joining NATO. Stupid, stupid people running all three countries.

 

[JoeB131]

But but but the economy is supposed to be booming
Best economy ever ain't that right JoeB131 Golfing Gator

Are people living in cardboard boxes or something?

We've had a housing shortage for a long time, that's the thing. This isn't a new problem.

 

[LAUGHatLEFTISTS]

-----------------------------------------------------------
Marvin......let's have a little tutorial here, OK?

Yes, inflation has been higher the last two years than the the recent past before that. But too, the whole world experienced inflation. Most higher, sometimes much higher....than in America. So calling it "Bidenflation" seems a misnomer. Why not call it Putinflation, as his invasion restricted both oil, grain, fertilizer supply.....thus driving up fuel and food prices. For the whole world! Duh!

And then, your hissyfitting over 'interest rates"....well, amigo, how do you curb inflation?
Hint: Make it more expensive to buy stuff so that the demand is reduced and the supply can catch up. (inflation happens when demand outpaces supply. duh!).

Are you expecting inflation to abate just because you don't like it?
Good luck with that.
It takes broad macroeconomic measures (ala' central banks raising rates so borrowing money is more expensive).

Class dismissed.

Kookenomics at its finest.

 

[Harpy Eagle]

But but but the economy is supposed to be booming
Best economy ever ain't that right JoeB131 Golfing Gator

I am doing the best I have ever done. I do not really give a fuck about the rest of you.

 

[pknopp]

Are people living in cardboard boxes or something?

We've had a housing shortage for a long time, that's the thing. This isn't a new problem.

But Wall Street is booming.

 

[bigrebnc1775]

I am doing the best I have ever done. I do not really give a fuck about the rest of you.

Me to but government work never slows down. But the general public is having it rough in a bidenomics economy

 

[Smokin' OP]

 

[JoeB131]

But Wall Street is booming.

Okay, we have 18 minutes of stew-bums wandering around the street. Partially because some liberal do-gooders decided that mental health hospitals were "Mean" and got them all closed down. These folks self-medicate with drugs and alcohol and pose a danger to decent people.

I don't see you and the rest of the Bernie Bros taking these vagrants into your house.

Shit, Bernie's got three mansions. Plenty of room for stewbums there.

 

[Edgetho]

I saw both headlines on the Drudge Report. Not being interested in selling my home to buy another one, I was more impressed by the fact that S&P 500 was at an all time high today, during the Biden administration. It turned out the previous record high was also under the Biden administration, 2 years ago. This pleases me, as a significant amount of my retirement is in CDs backed against the S&P 500.
View attachment 890458

S&P 500 rallies 1% to all-time high, surpassing previous record set in 2022: Live updates

The major averages rose Friday, as the S&P 500 traded around the 4,800 level to break its previous record intraday high.

www.cnbc.com

If your portfolio has increased by 10% but inflation has risen by 15%....... What are you excited about? Its's phony money. Inflation money.

Glad you're not interested in a buying a New Home right now because, everywhere I've checked, the price of homes, new and existing, is up about 30%.

Food is up 40%. I paid $41k for my truck in 2017 the same truck today costs $75k. At least they're coming down some. They were virtually unavailable until last year. Index-Linked CDs aren't really a 'bad' idea at all. Especially if you're looking for 'safe'. But they're far, far from keeping you ahead of inflation. I'd give you some better ideas but, sadly, there aren't any. This economy was FUCKED for the last 3 years. But it's getting better. Not by much, but better is still better. I'm down 40%.

And yes, I know wherefore I speak. I was licensed with the NASD and held a Realtor license (HATED it) for a couple years. If I were giving opinion, I'd say so. That the economy SUCKS is not opinion. It is real.

But, as long as you're happy......

 

[BrokeLoser]

But you tell us Mexifornia and Loon York carry us economically…who closed them down while Florida was kicking ass?

You need to ramble at the moon.

Face it…this is just more of the same from the backwards as fuck leftist Twilight Zoners….you create the problem with retarded policy, then you complain about the results of the policy, then you pretend others had something to do with the always destined to fail policy….and round and round we go.
Admit it…you can’t and won’t get out of your own way…you are your worst enemy.

 

[LAUGHatLEFTISTS]

No, both parties did but you understand that.

Just two weeks to flatten the curve. Then the dems realize they could use the shutdown to destroy Trumps booming economy .

 

[pknopp]

Okay, we have 18 minutes of stew-bums wandering around the street. Partially because some liberal do-gooders decided that mental health hospitals were "Mean" and got them all closed down. These folks self-medicate with drugs and alcohol and pose a danger to decent people.

I don't see you and the rest of the Bernie Bros taking these vagrants into your house.

Shit, Bernie's got three mansions. Plenty of room for stewbums there.

You sound more like a Republican by the day.

 

[pknopp]

Just two weeks to flatten the curve. Then the dems realize they could use the shutdown to destroy Trumps booming economy .

Trump was so easily played I guess.

 

[my2¢]

I'm used to interest rates being where they stood before the 2008 great recession. I figure 5.5% to 6.0% is ideal. To me it is well past time we get things back to normal. Rates should have been gradually risen during Obama's 2nd term and then eased during COVID. The drop in home sales. As a saver and not a borrower the return on cash savings has been very welcoming indeed.

 

[White 6]

If your portfolio has increased by 10% but inflation has risen by 15%....... What are you excited about? Its's phony money. Inflation money.

Glad you're not interested in a buying a New Home right now because, everywhere I've checked, the price of homes, new and existing, is up about 30%.

Food is up 40%. I paid $41k for my truck in 2017 the same truck today costs $75k. At least they're coming down some. They were virtually unavailable until last year. Index-Linked CDs aren't really a 'bad' idea at all. Especially if you're looking for 'safe'. But they're far, far from keeping you ahead of inflation. I'd give you some better ideas but, sadly, there aren't any. This economy was FUCKED for the last 3 years. But it's getting better. Not by much, but better is still better. I'm down 40%.

And yes, I know wherefore I speak. I was licensed with the NASD and held a Realtor license (HATED it) for a couple years. If I were giving opinion, I'd say so. That the economy SUCKS is not opinion. It is real.

But, as long as you're happy......

My son is looking to buy. He says many show reductions by owners. These are owners that waited too late on inordinate rise in the real estate market after the economy recovered. He is in now hurry, simply putting more money in the bank as the market stabilizes closer to where it was, before going craze. These things always regain balance. Nothing new. The ratchet in affect, on exhibit. Meanwhile, his income is still rising. He has a good head on his shoulders. We did OK.

 

[LAUGHatLEFTISTS]

Trump was so easily played I guess.

Yeah. That’s what it was.

 

[Edgetho]

My son is looking to buy. He says many show reductions by owners. These are owners that waited too late on inordinate rise in the real estate market after the economy recovered. He is in now hurry, simply putting more money in the bank as the market stabilizes closer to where it was, before going craze. These things always regain balance. Nothing new. The ratchet in affect, on exhibit. Meanwhile, his income is still rising. He has a good head on his shoulders. We did OK.

I'm okay, too. Got what's left of my money in 5 different Funds, Income, Growth (2), Euro-Pac. Trying to cover all the bases.

I'm not going to be living on Dog Food any time soon, but it makes it real hard to plan for the future with the way the economy is. Like it's being steered by idiots.

I've lived in Florida for the last 48 years and -- I want out. Mostly because it is being invaded by fat, cellulite-ridden Yankees that crowd our roads to the point of inducing murderous thoughts, wipe out our grocery shelves, occupy all the restaurant tables, infest our beaches with white fat that would make an oinker run for cover and generally just simply suck.

Before Sponge Brains Shits Pants, we could live with the usual movement of people from North to South. It was kinda interesting. Kinda cool. Kept the economy going.

But since that incompetent fool usurped the office of POTUS, people are simply FLEEING the North! I mean, it's a stampede.

They're like locusts. You can go to the store and see women almost get in a fist fight over the last Beef Roast.

When I moved to Ft Myers, it was a sleepy little fishing and low-cost retirement area. Mostly people from the MidWest. Pretty laid back, easy to get along with. Cape Coral had one Cop. Bernie. Kinda like Barney Fife.

Now, we're over a million residents in the county. BTW, we're not a City, we're a County. Just one Big Suburb. No Cities in SW Florida. In "Season" which is right now, I'd estimate we're nearer 1.2 Million People. And, it's going High-End. Million Dollar developments are everywhere. In fact, they're becoming passe, now it's 10 million+ developments that are en vogue.

And the infrastructure can't handle it. Friend of mine went to the E Room. Had to wait for 4 hours before anybody would even talk to her. Poor thing was laying on the floor, crying, for over an hour until a Nurse felt sorry for her.

You see, when the illegals come in, they're told by Sponge Brains Shits Pants boys that the E-Room can't refuse you. They're required by law to 'stabilize' you. So they show up in every E-Room around and take up space for a hang-nail or a runny nose. They have no Insurance, so they head for the E-Room

So its not just the Lines at McDonalds that Sponge Brains Shits Pants is responsible for -- It's a lot more. REALLY a lot more.

Sponge Brains Shits Pants has FUCKED this Country. Doesn't affect you? Good. I'm happy for you. But that piece of fucking shit has hurt a lot of people in this Country.

But, I guess as long as you're not one of them, that's what counts, huh?

 

[JoeB131]

You sound more like a Republican by the day.

I'm what Democrats and Republicans were before their respective crazies took over.

Duly noted that despite your sad film about Stewbums (Seriously, just filming the same 10 homeless) you guys aren't proposing any solutions.

I have a solution

1) Bring back the mental hospitals
2) Enforce vagrancy laws
3) build low-income housing instead of just giving them vouchers, but manage them properly.