"Under Joe Biden's administration, mortgages have doubled to the highest level in history & double the cost to rent,"

[FranklinRoosevelt_FTW]

Grant Cardone Exposes Housing Cost Surge Under Biden — 'Mortgages Have Doubled To The Highest Level In History & Double The Cost To Rent'

Real estate investor Grant Cardone highlighted a striking rise in mortgage rates under President Joe Biden's administration in a May 3 post on X. "Under Joe Biden's administration, mortgages have doubled to the highest level in history & double the cost to rent," Cardone posted. "April 2020...

finance.yahoo.com

Imagine what it’s like to be a working class person in this country and to hear a democrat brag about the equity of their house going up in value. Which by the way means nothing when that person wants to sell their home and buy a new home at a jacked up price With a higher interest rate. It reminds us of the neo conservatives bragging about how American soldiers don’t have to die in the Russian war in Ukraine, as if the Ukrainian lives mean nothing. It really has to be a form of evil. What else is there to say what other words are there to use?


The cost of living is the most important thing in a country. That’s what separates for example countries with extreme levels of poverty to what people generally believe is the case in the western countries. It’s what separates the so-called third world from the first world. And there are by the way countries in the east they have extraordinary wealth and prosperity like Singapore, Saudi Arabia, the United Arab Emirates etc

"Under Joe Biden's administration, mortgages have doubled to the highest level in history & double the cost to rent," Cardone posted. "April 2020: $1,480. April 2024: $2,890 (record high). Will you buy a house this year?"

Biden supporters, the multi millionaire celebrities, and the Hollywood left will continue to support Joe Biden, and they will continue to make whatever excuse they want for the high price of inflation. But the fact is the bottom line is the work class Americans don’t want to hear what they have to say. they want a better economy. They want to be able to afford the American dream. For many Americans across the country they are in a state of being furious wondering if they will ever have a chance at the American dream. God willing whether it’s a Democrat or a Republican, who is elected in 2024 or 2028 that we do have a better future. Because currently the economy is horrible for working class people.

 

[FranklinRoosevelt_FTW]

mortgages have doubled to the highest level in history & double the cost to rent,"​

It’s truly astonishing and shocking. Right now in this country, there is a working class family living in a tiny apartment or even in their parents basement trying to figure things out wondering if they will ever accomplish the American dream. There are millions of examples of this occurring all throughout the country.

Will America ever have another age of prosperity like we did for decades after World War II? or will it continue to get worse..or are the current high prices the status quo for years to come ? That’s really the big question here….. for the middle class will we have a status quo that we currently have for years to come, will things get worse soon or will they get better sooner than later? What folks think about that?

 

[candycorn]

Grant Cardone Exposes Housing Cost Surge Under Biden — 'Mortgages Have Doubled To The Highest Level In History & Double The Cost To Rent'

Real estate investor Grant Cardone highlighted a striking rise in mortgage rates under President Joe Biden's administration in a May 3 post on X. "Under Joe Biden's administration, mortgages have doubled to the highest level in history & double the cost to rent," Cardone posted. "April 2020...

finance.yahoo.com

Imagine what it’s like to be a working class person in this country and to hear a democrat brag about the equity of their house going up in value. Which by the way means nothing when that person wants to sell their home and buy a new home at a jacked up price With a higher interest rate. It reminds us of the neo conservatives bragging about how American soldiers don’t have to die in the Russian war in Ukraine, as if the Ukrainian lives mean nothing. It really has to be a form of evil. What else is there to say what other words are there to use?


The cost of living is the most important thing in a country. That’s what separates for example countries with extreme levels of poverty to what people generally believe is the case in the western countries. It’s what separates the so-called third world from the first world. And there are by the way countries in the east they have extraordinary wealth and prosperity like Singapore, Saudi Arabia, the United Arab Emirates etc

"Under Joe Biden's administration, mortgages have doubled to the highest level in history & double the cost to rent," Cardone posted. "April 2020: $1,480. April 2024: $2,890 (record high). Will you buy a house this year?"

Biden supporters, the multi millionaire celebrities, and the Hollywood left will continue to support Joe Biden, and they will continue to make whatever excuse they want for the high price of inflation. But the fact is the bottom line is the work class Americans don’t want to hear what they have to say. they want a better economy. They want to be able to afford the American dream. For many Americans across the country they are in a state of being furious wondering if they will ever have a chance at the American dream. God willing whether it’s a Democrat or a Republican, who is elected in 2024 or 2028 that we do have a better future. Because currently the economy is horrible for working class people.

One would have to imagine because rents have not doubled, Ivan.

 

[FranklinRoosevelt_FTW]

@biden supporters.

Despite these financial challenges, homeownership remains a central component of the American Dream, with 78% of Americans viewing it as such, according to Bankrate's Home Affordability Report. Affordability remains a major hurdle, with a significant proportion of nonhomeowners citing lack of income, high home prices and the inability to afford a down payment and closing costs as their main barriers to purchasing a home.

Address this…. will things get better for the working class American sooner than later. Will things get worse or will we continue with the current status quo for years to come?

 

[shockedcanadian]

That ismgoing ro be a.problem.for.them.in major cities.for sure. GOP should strike.with confidence if this is true because major cities are already overpriced.

 

[frigidweirdo]

Grant Cardone Exposes Housing Cost Surge Under Biden — 'Mortgages Have Doubled To The Highest Level In History & Double The Cost To Rent'

Real estate investor Grant Cardone highlighted a striking rise in mortgage rates under President Joe Biden's administration in a May 3 post on X. "Under Joe Biden's administration, mortgages have doubled to the highest level in history & double the cost to rent," Cardone posted. "April 2020...

finance.yahoo.com

Imagine what it’s like to be a working class person in this country and to hear a democrat brag about the equity of their house going up in value. Which by the way means nothing when that person wants to sell their home and buy a new home at a jacked up price With a higher interest rate. It reminds us of the neo conservatives bragging about how American soldiers don’t have to die in the Russian war in Ukraine, as if the Ukrainian lives mean nothing. It really has to be a form of evil. What else is there to say what other words are there to use?


The cost of living is the most important thing in a country. That’s what separates for example countries with extreme levels of poverty to what people generally believe is the case in the western countries. It’s what separates the so-called third world from the first world. And there are by the way countries in the east they have extraordinary wealth and prosperity like Singapore, Saudi Arabia, the United Arab Emirates etc

"Under Joe Biden's administration, mortgages have doubled to the highest level in history & double the cost to rent," Cardone posted. "April 2020: $1,480. April 2024: $2,890 (record high). Will you buy a house this year?"

Biden supporters, the multi millionaire celebrities, and the Hollywood left will continue to support Joe Biden, and they will continue to make whatever excuse they want for the high price of inflation. But the fact is the bottom line is the work class Americans don’t want to hear what they have to say. they want a better economy. They want to be able to afford the American dream. For many Americans across the country they are in a state of being furious wondering if they will ever have a chance at the American dream. God willing whether it’s a Democrat or a Republican, who is elected in 2024 or 2028 that we do have a better future. Because currently the economy is horrible for working class people.

Have mortgages increased because of Biden or because of things that happened that had nothing to do with the President?

Mortgages were dropping from 1980 onward. They've gone up recently because the Feds are trying to lower inflation. Inflation has happened everywhere because of the Coronavirus, because of the war in the Ukraine.

The biggest problem is the US has been constantly trying to push the economy for too long. The 2008 bust was as a result of boom and bust and the US govt has been trying to gain higher booms and therefore higher busts.

To keep the rate of growth down is important to stop another huge bust, where the rich get to make more money and the poor get poorer.

This is the Federal Reserve. It's not Biden.

But I guess in the world of "there's only two people running politics, Biden and Trump".... it doesn't matter.

 

[BluesLegend]

Which by the way means nothing when that person wants to sell their home and buy a new home at a jacked up price With a higher interest rate.

You forgot the jacked up home prices have doubled the PROPERTY TAXES. State governments are quietly enjoying a HUGE tax increase. If they put a tax increase that huge on the ballot it would go down in flames, but all they have to do is raise the assessed value.

I heard someone in Texas squealing like a stuck pig recently regarding his insane property taxes. Florida is also enjoying a windfall though they like to SLAM people new to the state who pay full boat property taxes while their next-door neighbor is locked into a much lower tax for the exact same house. If you were a resident before the huge upswing in values you are golden.

 

[rightwinger]

Buyers set the market
When sufficient buyers are unable to meet the mortgage demands….prices will drop

Right now, buyers are driving up prices

 

[berg80]

@biden supporters.

Despite these financial challenges, homeownership remains a central component of the American Dream, with 78% of Americans viewing it as such, according to Bankrate's Home Affordability Report. Affordability remains a major hurdle, with a significant proportion of nonhomeowners citing lack of income, high home prices and the inability to afford a down payment and closing costs as their main barriers to purchasing a home.

Address this…. will things get better for the working class American sooner than later. Will things get worse or will we continue with the current status quo for years to come?

Home builders have not kept pace with household formation for quite a while.

U.S. HOUSING GAP HITS 7.2 MILLION AFTER MORE THAN A DECADE OF UNDERBUILDING​

Realtor.com just came out with a report highlighting the current housing shortage in the U.S. Despite the increase in new construction, household formation over the past decade has outpaced housing starts, resulting in a shortfall of 7.2 million homes.

U.S. Housing Gap Hits 7.2 Million After More than a Decade of Underbuilding - BAM

A new Realtor.com report shows a 7.2 million unit gap between housing formation and housing supply, due to more than a decade of underbuilding.

nowbam.com

Apparently, Mr. Cardone was not around in the 80's when mortgage rates were well above 10%. I know, I had one.

 

[JohnDB]

Between the skyrocketed housing prices and construction costs and mortgage interest rates....
Doubling is NOT the net result....
Triple to quadruple is the result for housing.
A $200,000 house now sells for $300,000-$400,000. Then the rates for mortgages went from 3%-9.25%.

Now where this doesn't have much to do with the President himself it does have a LOT to do with the Federal Reserve and the Treasury department.
SEC isn't exactly innocent either. Nor is Congress. (Congress's insider trading has a LOT to do with their constant fighting and NOT DOING THEIR JOB)

If we want anything done the insider trading needs to be stopped.

 

[Lesh]

Home builders have not kept pace with household formation for quite a while.

U.S. HOUSING GAP HITS 7.2 MILLION AFTER MORE THAN A DECADE OF UNDERBUILDING​

Realtor.com just came out with a report highlighting the current housing shortage in the U.S. Despite the increase in new construction, household formation over the past decade has outpaced housing starts, resulting in a shortfall of 7.2 million homes.

U.S. Housing Gap Hits 7.2 Million After More than a Decade of Underbuilding - BAM

A new Realtor.com report shows a 7.2 million unit gap between housing formation and housing supply, due to more than a decade of underbuilding.

nowbam.com

Apparently, Mr. Cardone was not around in the 80's when mortgage rates were well above 10%. I know, I had one.

Was Reagan at fault in the 80s when mortgage rates were 10% and higher?

Every time I found a house I could barely afford the rate and jumped up a couple points and taken it out of reach.

I didn’t like Reagan one bit but I didn’t blame him for that. It was the product of things that had begun a decade earlier

Just like now

 

[BluesLegend]

Was Reagan at fault in the 80s when mortgage rates were 10% and higher?

No, Dem idiot Carter was.

 

[rightwinger]

Between the skyrocketed housing prices and construction costs and mortgage interest rates....
Doubling is NOT the net result....
Triple to quadruple is the result for housing.
A $200,000 house now sells for $300,000-$400,000. Then the rates for mortgages went from 3%-9.25%.

Now where this doesn't have much to do with the President himself it does have a LOT to do with the Federal Reserve and the Treasury department.
SEC isn't exactly innocent either. Nor is Congress. (Congress's insider trading has a LOT to do with their constant fighting and NOT DOING THEIR JOB)

If we want anything done the insider trading needs to be stopped.

Do you want the Nanny State to buy you a house?

Why don’t you get a better job?

 

[Lesh]

No, Dem idiot Carter was.

Actually it was Nixon and Vietnam but facts don’t matter to freaks like this guy

 

[leftwinger]

A one-bedroom APT in mostly pricey MTN. View CA (Silicon Valley area) was ~$1000-$1350 per month. near El Camino and Shoreline.

I have little doubt the same unit is over $2000 at this time.

 

[Seymour Flops]

Widespread home ownership is an anathema to the Democrats. No middle class person has a greater stake in a stable economy, peace, and security than a home owner, whose home is his or her most important financial assett.

Wealthy celebrities, woke corporate execs, foreign billionaires, and people who live in public housing can afford to be much more cavalier about economy-damaging moves like "ending fossil fuel use" and giving jobs based on "equity," because the poor have little to lose, and the uber wealthy left can afford to lose something as unimportant as the building they happen to live in at the moment. They'll buy another.

I guess that's why all the wealthy leftists who claim that global warming will raise sea levels don't mind buying beach property in Martha's Vineyard.

 

[Thinker101]

A one-bedroom APT in mostly pricey MTN. View CA (Silicon Valley area) was ~$1000-$1350 per month. near El Camino and Shoreline.

I have little doubt the same unit is over $2000 at this time.

Mountain View appears to be closer to $3000/month.

 

[JohnDB]

Do you want the Nanny State to buy you a house?

Why don’t you get a better job?

I have my home. The problem is not about me and mine....it's about my community and other communities.

This situation causes essentially carpetbaggers to come in and control the entire market. Basically a wealthy elite ruling class having a monopoly on who gets to live and work in an area.

We don't want an oligarch system.

 

[JohnDB]

Actually it was Nixon and Vietnam but facts don’t matter to freaks like this guy

No...
That was why Carter had some of the worst press. The Fed Reserve was NOT allowed to do anything about the money supply and the exorbitantly strong dollar that caused manufacturing flight out of the country. The high inflation, high taxes, and strong dollar made it 10 times cheaper to manufacture goods outside of America rather than in it. So jobs evaporated on a massive scale with double digit inflation with 9.5% and higher mortgages.

This is what Fritz campaigned on against Reagan by campaigning on raising taxes even higher and making exports non-existant and more cheaper imports.

 

[JohnDB]

Inflation causes what is called the "Dog Days of Retirement" for the elderly because food has gotten so expensive that you can only afford pet food to eat.