The Good, bad and the ugly on home ownership numbers in the United States
Once upon a time, owning a house was the hallmark of the American Dream. But hey, here’s a twist – with sky-high mortgage rates and homes as rare as unicorns, snagging that dream might seem like catching a shooting star. Yet, guess what? A whole bunch of Americans are already living that dream in their own homes. It’s like finding a hidden treasure in your backyard!
Bank of America is now providing *loans without down payment* for home buyers in “black & Hispanic Communities.” Mark my words: This act of “anti-racism” today will be called “systemic racism” tomorrow – when minorities end up defaulting on these loans. – Vivek Ramaswamy
As Vivek states above, something fishy is going on yet again. Just as in 1996 When Hillary Clinton helped get the CRA (Community Reinvestment Act) through, the government then forced banks to lend money to people who could not afford to pay it back. Purposely tanking the economy years later. They are at it once again!
So, let’s talk numbers. In 2022, the Federal Reserve dropped a bombshell: 66.1% of Americans were homeowners, a tiny hop from 64.9% in 2021. Sure, it’s a bit less than the golden year of 2004, but still, that’s a lot of folks with their own set of keys!
Kari Lake says: Bad DC policy has robbed our next generation of valuable skills, a good education, & has turned the dream of homeownership into a fantasy. I’m going to work to make it a reality. (listen below – article continues below Kari’s audio)
Bad DC policy has robbed our next generation of valuable skills, a good education, & has turned the dream of homeownership into a fantasy.
I’m going to work to make it a reality.
Listen to my discussion with @SethLeibsohn about Making The American Dream Affordable Again.… pic.twitter.com/76ZB0W1WBf
— Kari Lake (@KariLake) December 30, 2023
Here’s where it gets interesting. Not everyone’s on the same boat in this homeownership sea. Our wise seniors, those 65 and older, are more likely to be captains of their own ships, unlike the young sailors under 35. Makes sense, right? More time sailing, more treasures to buy a boat.
But wait, there’s a storm brewing. There’s a gap as wide as the Grand Canyon in who gets to own a home. In 2021, while 72.7% of white Americans owned their homes, only 44% of Black Americans could say the same. It’s a harsh truth, shadowed by a history of unfair play and ongoing inequality.
Now, here comes a plot twist. Big-shot investors like BlackRock and Vanguard have been gobbling up houses, turning the housing market into a game of Monopoly. But hold on! U.S. Senator Jeff Merkley and Washington Rep. Adam Smith are the new heroes in town. They’ve rolled out the “End Hedge Fund Control of American Homes Act” – a bold move to save the day and the American Dream.
Politicians Broke the Housing Market … Again. It’s no secret that the American dream of homeownership is dead, and lots of people say Biden killed it. While he put the last nail in the coffin, there’s plenty of blame to go around both sides of the political aisle going back decades. – Wall Street Silver
This act is like a superhero fighting to give regular folks a chance at owning a home. It’s a battle against those who’ve turned houses into gold mines, leaving the average Joe and Jane out in the cold.
Bloomberg dropped a truth bomb: owning a home in the U.S. is like joining a “six-figure club” – you need a hefty $114,000 income. Meanwhile, the rich are choosing to rent, just for kicks. And here’s a myth-buster: fewer low-income folks are renting now, while more high-rollers are signing leases.
– Whatfinger SponsorSo, there you have it. The quest for the American Dream of homeownership is like a rollercoaster ride – thrilling, bumpy, and full of surprises. But with courage and a little bit of magic, who knows? Maybe that dream isn’t so out of reach after all. Especially if we can get Trump back into office and we no longer have to worry about Bidenomics and the Democrats doing all they can to tank the economy.
Susan Guglielmo, freelance writer
More on Home Ownership…. Links – Comments – Threads
- “Logical” leftist: we have one of the highest homeownership rates in history, but the economy is terrible because we don’t have the homeownership rate we did in the middle of a housing bubble caused by lax lending standards that resulted in the worst recession since the 1930s – Swann Marcus
- The people have spoken, Here is my analysis on why Homeownership is NOT a lucrative Investment or Asset & should be avoided 2024 & Beyond – Fidel Cache Flow
- Since Biden took office, real wages have decreased 3.9%. For context, real wages increased 8.7% under Trump, a collapse in real wages of 12.6% under Democrats. Homeownership, which is a key way to build wealth in America, has completely stagnated under Biden, increasing a pitiful 0.1%. And can’t forget the worst border crisis in history. The first 27 days of December saw 225,000 illegal immigrants cross the border. For comparison, Trump’s final full YEAR only saw 401,000 illegal immigrants cross the border. It’s intentional destruction of the US by Democrats. – Truth Tsar
