{"id":96458,"date":"2023-10-02T15:20:11","date_gmt":"2023-10-02T20:20:11","guid":{"rendered":"https:\/\/milesfortis.com\/?p=96458"},"modified":"2023-10-02T15:20:11","modified_gmt":"2023-10-02T20:20:11","slug":"96458","status":"publish","type":"post","link":"https:\/\/milesfortis.com\/?p=96458","title":{"rendered":""},"content":{"rendered":"

Bidenomics! Average American Can\u2019t Afford Homes In 99% Of Country<\/a><\/p>\n

It\u2019s time for your daily dose of\u00a0Bidenomics<\/a>\u00a0\u2014 where the rules are made up and the points don\u2019t matter.<\/p>\n

In today\u2019s lesson, we\u2019ll learn how the fact that the average American can\u2019t afford to buy a home in 99% of the country is evidence of a historic economy.<\/p>\n

On Thursday, CBS\u00a0reported<\/a>\u00a0that real estate data provider ATTOM reviewed median home prices in 575 counties across the country and concluded that the average income earner \u2014 somebody who makes $71,214 a year \u2014 could afford to buy a home in just 1% of those areas in 2022.<\/p>\n

Chief Economist at Redfin, Daryl Fairweather, told CBS, \u201cThe only people who are selling right now are people who really need to move because of a life event \u2014 divorce, marriage, new baby, new job, etc. That lack of new inventory is keeping prices high.\u201d<\/p>\n

Part of the reason why homeowners are holding onto their homes is because of high interest rates \u2014 which were hiked to historic levels in hopes of slowing down runaway Bidenflation.<\/p>\n

That inflation was caused in part by massive government spending. The president\u2019s solution has been more government spending.<\/p>\n

Last week, Sen. JD Vance (R-OH) blamed part of the problem on corporations buying single-family homes as well.<\/p>\n

\u201cThey have access to lower interest rates,\u201d Vance\u00a0told<\/a> ABC6. \u201cThey have access to cheaper money, and they completely crowd out the availability for homes for people who want to just buy a piece of their community.\u201d<\/p>\n

Some of those companies have ties to the Chinese Communist Party \u2014 something Vance says is nonsensical to allow.<\/p>\n

\u201cI look around and say, \u2018What are we doing when we\u2019re letting the Communist Chinese Party buy up homes that should be going to Ohio citizens?\u2019 It just doesn\u2019t make any sense.\u201d<\/p>\n

Overlooked in the housing crisis has been the role that legal and illegal immigration has played. As flagged<\/a>\u00a0by The Washington Examiner last spring, several studies have shown that immigration, lawful or not, impacts both rental and home-owning prices. In short, the millions who enter the country each year drive up demand, which drives up prices.<\/p>\n

\u201cI think it\u2019s very hard to talk about the housing crisis in Ohio or across the country without talking about the immigration problem,\u201d Vance said last week \u201cWhen you let, let\u2019s say, 10 million or 15 million people into the country illegally, those people all need homes.\u201d<\/p>\n

Given the fact that one of the most basic elements of the American dream is out of reach for the American people, you\u2019d think Washington might want to address it. Instead, the vast majority are concerned with either making the southern border more accessible, or they\u2019re focused on providing aid to Ukraine. Or both.<\/p>\n

Given the enormity of the housing crisis, you would hope that the Republican Party would jump on solving it, thereby securing electoral victories in the process. Aside from Vance and a handful of others, not many in the GOP seem too concerned about it.<\/p>\n

So, instead, Biden will continue to bloviate that the American economy is booming, we need to accept millions of foreigners each year, and that we have a duty to spend billions in Ukraine. If you haven\u2019t picked up on it, Bidenomics is code for \u201cAmerica Last.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Bidenomics! Average American Can\u2019t Afford Homes In 99% Of Country It\u2019s time for your daily dose of\u00a0Bidenomics\u00a0\u2014 where the rules are made up and the points don\u2019t matter. In today\u2019s lesson, we\u2019ll learn how the fact that the average American can\u2019t afford to buy a home in 99% of the country is evidence of a … Continue reading “”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,19,50],"tags":[],"class_list":["post-96458","post","type-post","status-publish","format-standard","hentry","category-economy","category-fraud","category-goobermint"],"_links":{"self":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts\/96458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=96458"}],"version-history":[{"count":1,"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts\/96458\/revisions"}],"predecessor-version":[{"id":96459,"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts\/96458\/revisions\/96459"}],"wp:attachment":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=96458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=96458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=96458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}