Simply Unaffordable! Home Prices In 575 Counties Show Housing Unaffordable In 99% Of Counties (Home Prices UP 33% Under Biden, Mortgage Rates UP 149%, Average Weekly Income UP 3% In January)

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Simply unaffordable should be the campaign song for the upcoming election.

Housing under Bidenomics is simply unaffordable for many Americans since home price growth has outstripped average income for most Americans.

 ATTOM Data Services examined the median home prices last year for roughly 575 U.S. counties and found that home prices in 99% of those areas are beyond the reach of the average income earner. And to add insult to injury, 30-year fixed mortgage rates just rose back above 7%.

Although the Attom data is from Q3 2023, not much has changed. Under Biden (and his HUD Secretary Marcia Fudge, Fed Chair Jay Powell, and Treasury Secretary Janet Yellen), I did manage to find TWO AFFORDABLE areas to live: Shreveport Louisiana and Midland/Odessa Texas. The housing market remains unaffordable for millions of Americans.

I am not surprised given that the Case-Shiller National home price index has risen by 32.7% under Biden while mortgage rates are up … 149%.

Here is a chart of home prices against M2 Money.

Doctor, Doctor (Yellen), please stop the insane spending and borrowing!

Published by confoundedinterest17

Published