Joe Biden continues to set records. Housing affordability lowest IN A CENTURY

[airplanemechanic]

The current housing bubble is now officially worse than even in 2006. Biden has managed to make mortgage rates go from under 3 percent to 7 and a half percent, making buying a new home more expensive now than since any of us have been alive.

Housing market affordability is worse now than at the height of the housing bubble in 2006

Housing affordability, as monitored by the Atlanta Fed, has already deteriorated beyond the levels seen at the housing bubble's peak in 2006.

fortune.com

On Monday, the average 30-year fixed mortgage rate reached 7.48%, marking the highest level since the year 2000. Even prior to this recent surge in mortgage rates, housing affordability, as monitored by the Atlanta Fed, had already deteriorated beyond the levels seen at the housing bubble’s peak in 2006. Once this latest mortgage rate surge is factored in, August 2023 will become the worst month for housing affordability this century.

Lets go Brandon!!!! Way to go, Joe!!

 

[1srelluc]

Pretty much the same with new cars.

A new car that costs under $20,000, once an unofficial threshold of affordability, is all but history in the United States.

The Mitsubishi Mirage is the only new car available under 20K ($19,205).

A list of the 5 new vehicles with the lowest average purchase prices in the US

A new car that costs under $20,000, once an unofficial threshold of affordability, is all but history in the United States

abcnews.go.com

Small wonder given that due to over-regulation car companies are basically working for the .gov now.

 

[Manonthestreet]

Was going to say for sale signs are few and far between

 

[two_iron]

Average mortgage payments are up $1000/month under Bribe-o-nomics.

The stammering shit clown is killing it.... I mean the economy, he's fucking killing it.

 

[Winston]

The current housing bubble is now officially worse than even in 2006. Biden has managed to make mortgage rates go from under 3 percent to 7 and a half percent, making buying a new home more expensive now than since any of us have been alive.

Housing market affordability is worse now than at the height of the housing bubble in 2006

Housing affordability, as monitored by the Atlanta Fed, has already deteriorated beyond the levels seen at the housing bubble's peak in 2006.

fortune.com

Lets go Brandon!!!! Way to go, Joe!!

How stupid. I paid my house off years ago, at 11%. Sorry, but most of us here are older than 12.

 

[The Duke]

The current housing bubble is now officially worse than even in 2006. Biden has managed to make mortgage rates go from under 3 percent to 7 and a half percent, making buying a new home more expensive now than since any of us have been alive.

Housing market affordability is worse now than at the height of the housing bubble in 2006

Housing affordability, as monitored by the Atlanta Fed, has already deteriorated beyond the levels seen at the housing bubble's peak in 2006.

fortune.com

Lets go Brandon!!!! Way to go, Joe!!

It's bad, housing costs double or more what it did for most of America's history.

 

[JGalt]

The current housing bubble is now officially worse than even in 2006. Biden has managed to make mortgage rates go from under 3 percent to 7 and a half percent, making buying a new home more expensive now than since any of us have been alive.

Housing market affordability is worse now than at the height of the housing bubble in 2006

Housing affordability, as monitored by the Atlanta Fed, has already deteriorated beyond the levels seen at the housing bubble's peak in 2006.

fortune.com

Lets go Brandon!!!! Way to go, Joe!!

"Don't underestimate Joe's ability to fuck things up." - Barack Obama, 2020

'Shoot. Me. Now.': Obama Wanted To Drop ‘Condescending’ Biden, New Book Says

 

[LeftofLeft]

How stupid. I paid my house off years ago, at 11%. Sorry, but most of us here are older than 12.

Good for you. What and how should the rest of US do to be like you?

 

[struth]

The demafacist war on the working class rages on…

 

[jackflash]

The current housing bubble is now officially worse than even in 2006. Biden has managed to make mortgage rates go from under 3 percent to 7 and a half percent, making buying a new home more expensive now than since any of us have been alive.

Housing market affordability is worse now than at the height of the housing bubble in 2006

Housing affordability, as monitored by the Atlanta Fed, has already deteriorated beyond the levels seen at the housing bubble's peak in 2006.

fortune.com

Lets go Brandon!!!! Way to go, Joe!!

If the D.C. profe$$ional politican$ were a major league baseball team they'd have to be named the D.C Pirates!

 

[Independentthinker]

The current housing bubble is now officially worse than even in 2006. Biden has managed to make mortgage rates go from under 3 percent to 7 and a half percent, making buying a new home more expensive now than since any of us have been alive.

Housing market affordability is worse now than at the height of the housing bubble in 2006

Housing affordability, as monitored by the Atlanta Fed, has already deteriorated beyond the levels seen at the housing bubble's peak in 2006.

fortune.com

Lets go Brandon!!!! Way to go, Joe!!

Well, if Biden wanted to be president so he could set records, he's done a fine job.

 

[JGalt]

Well, if Biden wanted to be president so he could set records, he's done a fine job.

And all this time I thought he wanted to become president so he could set boxes of government records in his garage.

 

[Independentthinker]

And all this time I thought he wanted to become president so he could set boxes of government records in his garage.

Hell, he was doing that way before becoming president.

 

[JGalt]

Hell, he was doing that way before becoming president.

But now he can do that with impunity. I suspect we'll never hear about Biden's document scandal again, it's been disappeared down the memory hole forever.

 

[Resnic]

The current housing bubble is now officially worse than even in 2006. Biden has managed to make mortgage rates go from under 3 percent to 7 and a half percent, making buying a new home more expensive now than since any of us have been alive.

Housing market affordability is worse now than at the height of the housing bubble in 2006

Housing affordability, as monitored by the Atlanta Fed, has already deteriorated beyond the levels seen at the housing bubble's peak in 2006.

fortune.com

Lets go Brandon!!!! Way to go, Joe!!

It's great for all these companies putting up renting units like crazy. When people can't afford a new mortgage and have bad credit from having to borrow and rack up credit cards just to pay bills then their only option is renting. And once poor people have to rent it's damned hard to get away from it.

https://realestate.usnews.com/real-estate/articles/the-rise-of-built-for-rent

Biggest apartment construction boom in decades likely to bring renters uneven relief

When viewed through a wide lens, renters across the U.S. finally appear to be getting some relief, thanks in part to the biggest apartment construction boom in decades. But a closer look shows the trend will likely be little comfort for many who continue to see rising rents.

www.pbs.org

And you have places like California since last year started phasing out single family home zoning.

What just happened with single-family zoning in California?

Gov. Gavin Newsom signed legislation that allows more than one unit to be built on lots zoned for only one. It sounds technical, but it's a major change in California housing policy. Here's what it means.

www.latimes.com

Rental properties mean more money, more control, more people in concentrated areas, people owning less due to space restrictions, more people owning less land, and more people trapped in a rental cycle.

It's a amazing way to push all your serfs together and trap them in a financial cage while the rich and politicians profit and own more themselves.

 

[jc456]

The current housing bubble is now officially worse than even in 2006. Biden has managed to make mortgage rates go from under 3 percent to 7 and a half percent, making buying a new home more expensive now than since any of us have been alive.

Housing market affordability is worse now than at the height of the housing bubble in 2006

Housing affordability, as monitored by the Atlanta Fed, has already deteriorated beyond the levels seen at the housing bubble's peak in 2006.

fortune.com

Lets go Brandon!!!! Way to go, Joe!!

getting close to Jimmy Carter days.

 

[JGalt]

getting close to Jimmy Carter days.

Great! That means Reagan's coming back.

Or someone like him.

 

[Billo_Really]

The current housing bubble is now officially worse than even in 2006. Biden has managed to make mortgage rates go from under 3 percent to 7 and a half percent, making buying a new home more expensive now than since any of us have been alive.

Housing market affordability is worse now than at the height of the housing bubble in 2006

Housing affordability, as monitored by the Atlanta Fed, has already deteriorated beyond the levels seen at the housing bubble's peak in 2006.

fortune.com

Lets go Brandon!!!! Way to go, Joe!!

If that is the case, then how come housing starts are up 6%? How come inflation is ticking down? How come the unemployment rate is at record lows?

 

[John Edgar Slow Horses]

AirplaneMechanic is goofy if he thinks biden has anything to do with the housing market.

Demand exceeds supply, the Fed Reserve is fighting inflation, and AM goes after Biden.

Just not sensible.

 

[jc456]

AirplaneMechanic is goofy if he thinks biden has anything to do with the housing market.

Demand exceeds supply, the Fed Reserve is fighting inflation, and AM goes after Biden.

Just not sensible.

so creepy joe isn't good for anything right?