A Surge In Wealth Has Boosted Most US Households Since 2020

[The Duke]

How are you enjoying Trump's "beautiful" Obamacare replacement?

Thanks to Trump, Obamacare is now immortal. A third rail.

At least until it is replaced by UHC which Trump has made inevitable.

Trump has always been bigly in favor of UHC, you know.

I tried to warn you all, but you didn't listen.

LEFTIST PROG FUCKTARD RULES OF ENGAGEMENT

1. Demand a link or an explanation of the truth they are objecting to.

2. Promptly reject all explanations as right wing lies. Smoke spin deflect.

3. Ignore any facts presented.

3a. Play dumb and keep others wasting their time trying to enlighten you.

4. Ridicule spelling and typos, punctuation.

5. Attack the person as being juvenile, ie: "are you 12 years old", question their education, intelligence, Age.

6. Employ misdirection.

6a. smear people.

6b. attack religion.

6c. attack your rationality.

7. Lie, make false assumptions.

8. Play race/gender card/misogynist card.

9. Play gay/lesbian card.

10. Play the Nazi/Fascist/bigot card.

11. Make up stuff/So you got nothing?

12. Deny constantly.

13. Reword and repeat.

14. Pretending not to understand, playing ignorant/what did I lie about.

15. When losing, resort to personal attacks.

16. Russia.

17. Fox News/Alex Jones/Brietbart/infowars/Stormfront/Gateway/hannity/OAN.

18. You can’t read.

19. Trump Trump Trump Trump Trump Trump.

20. What about...


=======================================

Ya just can't quit the man!

He rules you!

 

[Billiejeens]

More voodoo economics from Democrat stat spinners. More homeless, more people behind on their rent and debts, more old people eating catfood and not buying meds they need, etc. etc. But sure, hide behind bogus statistics and claim everything is rosey.

It's insanity.

Does a Cultist like G actually believe this stuff, or is he just 100% propagandist who pushes the narrative regardless of the insanity?

 

[BluesLegend]

You just want to bury the facts. There was a lot of government money that was infused into the system.
That money isn't free. CC debt really has increased, inflation really has increased. Mortgage rates really
has increased.

Interest on the debt is expected to explode to $1 trillion this year when a bunch of debt matures and is resold at 3x the prior interest rate. That's 25% of the entire 2021 budget

 

[Markle]

Just prior to Trump's economic crash, I foresaw it and refinanced my mortgage through my credit union. By the time I had jumped through all the paperwork hoops, the economy had tanked and I got an interest rate of 1.9%. I even took the trouble to come on this forum and recommend all of you do the same.

As you know, that was the Communist Chinese COVID-19 economic crash.

Interest rates started to climb not when President Biden took office but the week he was elected.

The market is in the toilet. I've been a Realtor since 1974, This is a bizarre market and it will get worse. Fortunate folks like yourself won't be in the market for another home for many years to come. Unless you are transferred, divorced or other change beyond your control, you'll be in that house for years, you'd be foolish to sell.

Then there is this.

1. Homeownership costs skyrocketed in 2022, pricing out 2.4 million renters.​

According to Harvard’s JCHS, the estimated housing payments — including mortgage, insurance and property tax — needed to purchase a median-priced home in the U.S. reached $3,000 per month in March 2023, pricing out 2.4 million more renters from homebuying than last year. This included a disproportionate share of Black and Hispanic homebuyers. The estimated annual income needed to afford median homeownership costs rose 20% to $117,000 — well above the national median income for renters.

Median home prices actually dropped slightly between early 2022 and early 2023, but this was more than outweighed by rising interest rates, which increased by more than half. As overall homeownership costs rose, first-time homebuying took a sizable hit. The number of first-time homebuyers starting a mortgage in 2022 declined 22% from the previous year, including a drop of 40% between the fourth quarters of 2022 and 2021.

2023 State of the Nation’s Housing report: 4 key takeaways

We’ve rounded up four key takeaways from the full report, which provides valuable data on the current U.S. housing market. This report was released by Harvard University’s Joint Center for Housing Studies and proudly sponsored by Habitat.

www.habitat.org

 

[BluesLegend]

Has my vote for biggest Dem propaganda thread of the month.

 

[Woodznutz]

You just want to bury the facts. There was a lot of government money that was infused into the system.
That money isn't free. CC debt really has increased, inflation really has increased. Mortgage rates really
has increased.

The 1970's were worse.

 

[The Duke]

It's insanity.

Does a Cultist like G actually believe this stuff, or is he just 100% propagandist who pushes the narrative regardless of the insanity?

I opt for the latter. He doesn't believe the bullshit he spews.

It's all about the Benjamins Lincolns, baby!

 

[The Duke]

Has my vote for biggest Dem propaganda thread of the month.

Have you never seen The Wanker threads? This is tame in comparison.

 

[g5000]

Interest rates started to climb not when President Biden took office but the week he was elected.

And the tards are stupid enough to bleev inflation magically happened instantly and was not caused by long term events going back years.

Like, say, Trump borrowing and spending $8 trillion more than revenues. Like, say, the Federal Reserve putting their balance sheet on steroids and jacking it up to $9 trillion.

No, all that money printing couldn't possibly be why we ended up with inflation after an economic crash!

My god, I don't know how people get this stupid. I really don't.

The market is in the toilet. I've been a Realtor since 1974, This is a bizarre market and it will get worse. Fortunate folks like yourself won't be in the market for another home for many years to come. Unless you are transferred, divorced or other change beyond your control, you'll be in that house for years, you'd be foolish to sell.

Then there is this.

1. Homeownership costs skyrocketed in 2022, pricing out 2.4 million renters.​

According to Harvard’s JCHS, the estimated housing payments — including mortgage, insurance and property tax — needed to purchase a median-priced home in the U.S. reached $3,000 per month in March 2023, pricing out 2.4 million more renters from homebuying than last year. This included a disproportionate share of Black and Hispanic homebuyers. The estimated annual income needed to afford median homeownership costs rose 20% to $117,000 — well above the national median income for renters.

Median home prices actually dropped slightly between early 2022 and early 2023, but this was more than outweighed by rising interest rates, which increased by more than half. As overall homeownership costs rose, first-time homebuying took a sizable hit. The number of first-time homebuyers starting a mortgage in 2022 declined 22% from the previous year, including a drop of 40% between the fourth quarters of 2022 and 2021.

2023 State of the Nation’s Housing report: 4 key takeaways

We’ve rounded up four key takeaways from the full report, which provides valuable data on the current U.S. housing market. This report was released by Harvard University’s Joint Center for Housing Studies and proudly sponsored by Habitat.

www.habitat.org

Yes, just as I said. People like me are holding onto our houses, and this is causing a housing shortage which is driving up home prices.

But there is a house building boom right now. I'm sure as a realtor you are seeing this.

This building boom will begin to mitigate the housing shortage and prices eventually. It will just take time.

And those people who have high interest mortgages will refinance in a couple years now that inflation has dropped significantly.

It will all iron out, and has nothing to do with Biden, and everything to do with market forces.

 

[Billiejeens]

Interest on the debt is expected to explode to $1 trillion this year when a bunch of debt matures and is resold at 3x the prior interest rate. That's 25% of the entire 2021 budget

Racist.

 

[Nostra]

Neither evictions, nor foreclosures are anywhere near the high that was achieved in 2008 and 2009 after W’s economic crash, and the Housing Bubble collapse.

Biden tried to cancel student debt, but Republicans want young people to be poor and desperate so they’ll work for any amount of money offered.

The Republican Party exists to bleed the working and middle class white, in more ways than one.

Why should working folks pay off the loans other people agreed to pay for useless degrees, Moron?

 

[Billiejeens]

And the tards are stupid enough to bleev inflation magically happened instantly and was not caused by long term events going back years.

Like, say, Trump borrowing and spending $8 trillion more than revenues. Like, say, the Federal Reserve putting their balance sheet on steroids and jacking it up to $9 trillion.

No, all that money printing couldn't possibly be why we ended up with inflation after an economic crash!

My god, I don't know how people get this stupid. I really don't.



Yes, just as I said. People like me are holding onto our houses, and this is causing a housing shortage which is driving up home prices.

But there is a house building boom right now. I'm sure as a realtor you are seeing this.

This building boom will begin to mitigate the housing shortage and prices eventually. It will just take time.

And those people who have high interest mortgages will refinance in a couple years now that inflation has dropped significantly.

It will all iron out, and has nothing to do with Biden, and everything to do with market forces.

Do you not know that the word is believe, not bleeve?

 

[Nostra]

A surge in wealth has boosted most US households since 2020 and helped sustain economic growth

The net worth of the typical U.S. household grew at the fastest pace in more than three decades from 2020 through 2022, while relatively low interest rates at that time made it easier for households to pay their debts.

apnews.com

Wealth for the median household — the midpoint between the richest and poorest households — jumped 37% during those three years, the Federal Reserve reported, to nearly $193,000. (The figures are adjusted for inflation.) The increase reflected primarily a jump in home values and higher stock prices and a rise in the proportion of Americans who own homes and stocks.


More good news:

Pay Raises Are Finally Beating Inflation After Two Years of Falling Behind​

​

Still more good news:
US Unemployment Rate Holds at 3.8%

Yet more good news. The Dow is at 33,000. That's 14 percent higher than during the peak of the Trump administration.




And the success keeps coming: We are producing more oil than ever before.

U.S. Energy Independence Soars To Highest Level In Over 70 Years​

The U.S. is pumping oil faster than ever. Republicans don’t care.​

I expect the reaction by those hoping for America to fail will be

Meanwhile, real wages are down due to Bidenflation.

 

[Woodznutz]

Just stop. You know the MAGA’s don’t care about what normal people want. They want Trumpian chaos.

Biden's border: Chaos.
Trump's border: Order

Biden: Disorganized chaos.
Trump: Organized chaos.

 

[The Duke]

And the tards are stupid enough to bleev inflation magically happened instantly and was not caused by long term events going back years.

Like, say, Trump borrowing and spending $8 trillion more than revenues. Like, say, the Federal Reserve putting their balance sheet on steroids and jacking it up to $9 trillion.

No, all that money printing couldn't possibly be why we ended up with inflation after an economic crash!

My god, I don't know how people get this stupid. I really don't.



Yes, just as I said. People like me are holding onto our houses, and this is causing a housing shortage which is driving up home prices.

But there is a house building boom right now. I'm sure as a realtor you are seeing this.

This building boom will begin to mitigate the housing shortage and prices eventually. It will just take time.

And those people who have high interest mortgages will refinance in a couple years now that inflation has dropped significantly.

It will all iron out, and has nothing to do with Biden, and everything to do with market forces.

And you're not smart enough to realize that the price of everything is tied to the price of fuel, which Biden attacked

on Day 1.

https://www.energy.gov/sites/default/files/2021/02/f83/eo-13990-protecting-public-health-environment-restoring.pdf

 

[Woodznutz]

The current housing problem has been caused by people like me.

Just prior to Trump's economic crash, I foresaw it and refinanced my mortgage through my credit union. By the time I had jumped through all the paperwork hoops, the economy had tanked and I got an interest rate of 1.9%. I even took the trouble to come on this forum and recommend all of you do the same.

Millions of Americans did the same, and we are all sitting pretty. For obvious reasons, we also are not putting our houses on the market, and this has caused a housing shortage which in turn has caused house prices to substantially increase.

This has provided a double bonus for people like me. First, we have an embarrassingly small house payment. Second, due to rising house prices, we are sitting on a giant pile of equity. I have more equity than what I paid for my house!

There is now a massive home building surge going on, driven by these market forces. Eventually, this will mitigate the shortage and rising prices.

Those who are stuck in a 6 percent mortgage will refinance in a couple years. You will see a boom in refinancing at that time.

In my day I would have killed for a 6 percent mortgage.

 

[Woodznutz]

And you're not smart enough to realize that the price of everything is tied to the price of fuel, which Biden attacked

on Day 1.

https://www.energy.gov/sites/default/files/2021/02/f83/eo-13990-protecting-public-health-environment-restoring.pdf

True. The OPEC embargo proved that.

 

[Magnus]

The tangled mess that Obamacare created might be a factor.

Typical trumptard response. My fuhrer couldn't cut it? Blame the Dems.

Thanks for being consistent.

 

[Woodznutz]

Interest on the debt is expected to explode to $1 trillion this year when a bunch of debt matures and is resold at 3x the prior interest rate. That's 25% of the entire 2021 budget

Good thing we hold most of the debt. I don't hold any myself, but I'm invested in companies that do.

who holds us debt 2023 - Bing

La recherche intelligente de Bing facilite la recherche rapide et vous récompense.

www.bing.com

 

[Dragonlady]

Youngsters were lured onto the rocks by the siren song of college. They should have covered their ears.

Education is the path out of poverty.

Why should working folks pay off the loans other people agreed to pay for useless degrees, Moron?

Why should today's students have to go deeply into debt to get education. Tuition is 10 times what Boomers paid for their education. Why should today's students have to pay 10 times what we paid for our schooling????

Just like earned income credits are a scam to subsidize low wage workers on the backs of the middle class, and is a leading reason for the decline of the middle class in America, student debt is yet another way for the rich to get richer, while working people get screwed.

And YOU, Fuck Boi, are voting for the party that is impoverishing the working and middle class, because you're just that STUPID.