Simply Unaffordable! Housing Has Gotten More Unaffordable Over Past Year (Addicted To Gov)

Sharing is Caring!

by confoundedinterest17

Housing in the US is getting “simply unaffordable.” And it has gotten far worse over the past year. Thanks to BAD government policies.

While wage growth is positive, inflation is sucking the life from consumers. REAL average hourly earnings growth is -2.0133%. Even worse, home prices are rising at a 14.12% pace in REAL terms. So, wages are losing to inflation and housing is pulling away from renters in terms of affordability.`

This image has an empty alt attribute; its file name is realwagecs.png

So it is not surprising that the University of Michigan consumer survey for “Buying Conditions For Housing” remains below 100 (meaning that more people think buying conditions for housing are negative than positive). With the Case-Shiller National home price index growing at a 19.51% YoY pace, it is no wonder that consumers are getting scared of the housing market.

See also  Housing Bubble is popping in Canada....

Yes, US inflation is at a 40-year high and the 30-year Treasury Inflation Protected (TIP) yields is at -0.424%. That says quite a bit about the pickle US consumers are in.

US consumer confidence overall has declined to the lowest level since just after the financial crisis and housing bubble burst of 2008-9.

Doctor, Doctor (Yellen), please don’t try to make housing more “affordable” which will result in housing being even LESS affordable.

But I do like how Biden took credit for lowering gasoline prices a little after his anti-energy policies drove up gasoline prices in the first place from $2.20 to $3.40 a gallon, a 55% price increase. Thanks for nothing, Joe!

And with Omicron raging (with few reported deaths), Anthony Fauci, President Biden’s top medical adviser, indicated support for making vaccinations a requirement for domestic fights.

See also  Housing Affordability is now worse than it was during the early stages of the 2008 housing bubble

More loss of personal freedom, more government control. We are truly addicted to gov.



Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.