The average monthly mortgage payment in Joe Biden’s America has soared to $3,322, per analysis from the Wall Street Journal.
That $3,322 is nearly double the average monthly mortgage payment when His Fraudulency assumed office. When former President Trump left office, the average monthly mortgage payment was $1,787.
WSJ analysis of the housing market:
Average monthly new home payment
when Biden took office: $1,787
Average monthly new home payment
today: $3,322 pic.twitter.com/OBqjAM9Hr3
— Tom Bevan (@TomBevanRCP) December 11, 2023
“Homeownership has become a pipe dream for more Americans,” writes the WSJ, “even those who could afford to buy just a few years ago.”
“Many would-be buyers were already feeling stretched thin by home prices that shot quickly higher in the pandemic, but at least mortgage rates were low,” the report adds. “Now that they are high, many people are just giving up.”
But let’s remember who these people are who are looking to enter the housing market — young people. And who do young people vote for overwhelmingly? Democrats. And so, allow me to welcome you to today’s edition of People Getting What They Vote For:
It is now less affordable than any time in recent history to buy a home, and the math isn’t changing any time soon. Home prices aren’t expected to go back to prepandemic levels. The Federal Reserve, which started raising rates aggressively early last year to curb inflation, hasn’t shown much interest in cutting them. Mortgage rates slipped to about 7% last week, the lowest in several months, but they are still more than double what they were two years ago.
This is good news for me. The wife and I purchased our home in 1997. Afterward, we worked hard and saved harder to pay it off by 2003. Ever since we’ve been saving our money for retirement, and now that we are Of A Certain Age where it’s no longer wise to try to ride out stock market downturns, we have taken advantage of these gloriously high interest rates Democrats voted for. Our money is now nice and safe and snug in an interest-bearing account working its butt off for us. Thanks, Unhoused Zoomers!
Oh, but YOU can’t buy a home because you voted for a Democrat. Cry more.
Those obnoxiously high mortgage payments are not only due to the Bidenflation caused by His Fraudulency’s lunatic government spending. There are other factors…
For those of you who vote Democrat and are currently pissing away all your money on rent because you can’t afford a home, riddle me this: What happens to the housing market when a president throws open our southern border to millions and millions of illegal aliens who need a place to live? Think hard now… Could it be that when you have a finite amount of something people want and then flood the country with millions more people who want it…? Yes, that’s right, dummies, the cost of that Something People Want explodes and that Something People Want becomes scarcer. And now you want it and can’t get it because you’re a dummy.
The second factor is this… Democrats hate single-family homes. This is why they use Climate Change to justify blocking the construction of new homes. Democrats want us all packed in cities in massive government housing complexes. By the way, they make no secret of this.
The final factor is this… This is all by design, dummies. Democrats know lunatic government spending creates lunatic inflation and that lunatic inflation destroys purchasing power and creates high interest rates that make it impossible for the middle class to purchase a home. Democrats also know that when you flood a country already dealing with a housing crisis caused by enviro-lies with millions of illegals, housing costs explode.
Democrats don’t want you to own anything, especially a house. The mantra is, “You’ll own nothing and be happy.” This also means you will never accrue wealth because the middle and working class can only accrue wealth through home ownership. And when I say “wealth,” I don’t mean rich. Believe me, as hard and smart as my wife and I have worked, no one would consider us rich. But we do have a nest egg for retirement that will make us more comfortable than Social Security.
By design, the Democrat party and their pals in multinational corporations make out like bandits in a non-ownership society. You are dependent on the government and until the day you die, and you are eternally making monthly payments for your home (wake up, dummies), your car, your music, your movies, your TV programming, your radio, your computer operating system, and whatever other demonic subscription service they can rope you into (coffee! meals! makeup! car washes! perfume! veterinary care!).
So keep voting Democrat, dummies. It’s no skin off my nose. I’m set. And I’m enjoying this 5.5 percent guaranteed annual interest rate almost as much as my toldjasos.
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