"I know the cost of housing is so important to you. If inflation keeps coming down mortgage rates will come down as well. But I'm not waiting," said Biden, proposing temporary tax credits of $400 a month to compensate for high mortgage rates and the end of title insurance fees for federally backed mortgages.
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Starker here,
ReplyDeleteOne thing affecting the cost of housing I didn't see listed was the millions of extra people coming to the US. All of them want housing. Simple supply vs demand. Maybe that's why the swam has had so much bipartisan support. "All of these people will need to rent or want to buy. We'll make billions."
Have you noticed how many apartment complex are springing up? You can't swingca dead cat without hitting some 500 unit monstrosity. Then comes public transportation lines, parks with basketball courts and the need for a police sub-station.
DeleteExactly.
DeleteEvery four years the left proposes several ways to buy the votes of idiots with our money, usually with their friend getting a nice cut.
ReplyDeleteWoohoo! More free money. That'll solve inflation. Plus anyone that's a landlord must be rich, lock them up if they charge too much. Problems solved the Dimocrat way.
ReplyDelete
ReplyDeleteWe want to make perfectly clear: BlackRock is not buying individual houses in the U.S. Technically correct, but there's hundreds of smaller companies (In my area Mark Spain) telling people how convenient it is to let Mark buy your house. No viewing, no closings. Just pack and more. I'm betting most of these "shell companies" are fronts for Blackrock who is at the end of that funnel. Ya think the "Big Guy" and his family are in on it?
I think you're correct, Bog. It's all far too conveniently timed to NOT be deliberate and orchestrated.
DeleteNo one in the Democrat party dares to mention the fact that many rich landlords were screwed in the Covid nightmare. Not allowing them to evict tenants for not paying rent cost them huge amounts of money. Now they are likely trying to get some of that money back by raising rents.
ReplyDeleteJust another Democrat idea at work.
When the Government subsidizes an individual's residence, the Government holds a financial stake allowing it to dictate what goes on there. First thing the Government will mandate is subsidized property will be 'gun free'.
ReplyDeleteOver a decade of almost zero interest produced the over inflated home prices. So they fire up the printer to help ? This will not end in a good way there Kemosabe.
ReplyDelete"Promise them anything."
ReplyDelete*Any salesman for the last 100 years.
Pulte is building tract homes locally priced starting at $450K. Houses are spaced 2-4 feet apart and are all less than 3,000 sq ft. This is NOT an affluent area (Inland Empire) and I reckon in most cases several Chinese families will pool their assets to buy one with the intent to flip it.
ReplyDeleteIn 2-3 years this subdivision will be a slum.
" If inflation keeps coming down mortgage rates will come down as well."
ReplyDeleteIf a frog had wings...