Bidenomics: Mortgage rates highest in 21 years.

[Billo_Really]

.





My next door neighbors are trying to sell their house.

It's in a development and is precisely the mirror of my house, and in better shape than my home was when I bought it. Same size lot. Priced comparatively.

I bought mine on the day of the first showing. They've had three weekend showings and have not gotten a serious offer.

*sigh*

Watching eagerly as these neighbors will make me happy when they live on the other side of the state.




.

Well alrighty then!

 

[Moonglow]

And what do you attribute as the primary catalyst behind inflation was that pushed mortgage rates up?

Which time?

 

[BluesLegend]

God Dem's suck. Trump hands them winning and they snatch defeat from victory the corrupt morons.

 

[Kondor3]

Once again Biden’s war on working folks reads its ugly head.

I don't think it's so much a war on working folks as it is amateurs playing with macro-economics ostensibly for the greater good and ignoring microeconomics.

And it's not working, from what your Average Joe can tell... the Dems have a much greater percentage of space-cadets and dumb dreamers in their ranks.

The people are taking a beating under this regime. Food, gas, housing all out of control.

Yep. Nolo contendre.

So fix it.

You do that by (1) taking control of both houses of Congress and (2) retaking the White House.

You retake the White House by fielding a candidate (not Trump, or you'll lose for sure) who can advance the Trump agenda without the Trump baggage.

Do you really want to condemn us all to another four years of idiotic Democratic leadership?

You are running out of time to find that alternative to Trump... ya'll had better get crackin' while there is still time.

 

[Remodeling Maidiac]

Interest was just as high during Raygun.

And houses didn't cost hundreds of thousands then so it was far less painful.
10% on 50k is far more manageable than 10% on 300k

 

[Tunafish]

Interest was just as high during Raygun.

 

[Nostra]

You should have seen mortgage rates 40 years ago during Reagan..Guess what? We still survived...really!...
Jul 20, 2023 — Summary: Historical mortgage rate trends ; 1987, 10.40% ; 1986, 10.39% ; 1985, 12.43% ; 1984, 13.88%.

Historical mortgage rate trends: 1970s to 2023​

17.7% when Reagan was elected.

10.8% when he left office, Simp.

30-Year Fixed Rate Mortgage Average in the United States

View data of the average interest rate, calculated weekly, of fixed-rate mortgages with a 30-year repayment term.

fred.stlouisfed.org

 

[Independent thinker]

Once again Biden’s war on working folks reads its ugly head.

The people are taking a beating under this regime. Food, gas, housing all out of control.

Average long-term US mortgage rate climbs to 7.09% this week to highest level in more than 20 years

The average long-term U.S. mortgage rate jumped this week to its highest level in 20 years. That's grim news for would-be homebuyers already facing high home prices caused a lack of supply.

apnews.com

Everything the left does is social injustice, hurting the poor and minorities the most. Homes will become out of reach for the average American but the rich will still be able to afford them. Everyone else must pay rent, or join the ranks of the homeless because rents are going up to.

 

[struth]

My friend is trying to sell his house, this is a good thing!

How is it a good thing if he’s trying to sell it?

 

[struth]

Welcome to xiden’s american

 

[Nostra]

God Dem's suck. Trump hands them winning and they snatch defeat from victory the corrupt morons.

Nothing has improved under Chicom Joe.

 

[struth]

Nothing has improved under Chicom Joe.

Well the number of americans worse off since he was elected as grown..if you are a demafacist that’s an improvement

 

[Nostra]

Well the number of americans worse off since he was elected as grown..if you are a demafacist that’s an improvement

Yep. A record number of Americans say they are worst off than when Tater took office.

Bidenomics is killing working folks, while the rich get richer.

 

[Staidhup]

Which time?

Government spending! Either to fund Korea and Vietnam wars, during a period the government expropriated 70%+ in federal income taxes, and uncontrolled federal spending since. Over the past five years the government has printed Monopoly money like a drunk sailor or rather a desperate politician. Now inflation is back and the retired, most vulnerable, and people that work, are the victims. Raising taxes without a substantial reduction in government spending is a fools game, accomplishes nothing more than too entice politicians to spend more.