Young Americans are not able to buy homes in ever-increasing numbers. The rents are way too high and hurt their ability to save. The price of homes and inflation will also keep them from the American Dream. This will fit nicely with The Great Reset that Joe Biden has bought into fully and unequivocally. His Bidenomics fits right in. A theme of The Great Reset is you will own nothing and be happy, but they’ll own plenty.
Homeownership is a key component of the American Dream. Young people can’t have it in growing numbers.
STATISTICS VIA CNN
Nearly 70% of millennials, according to a 2019 study from the rental platform Apartment List, say they cannot afford a house due to rising prices, and a recent study by the Federal Reserve Bank of St. Louis Center for Household Financial Stability found that millennials have almost 35% less wealth than would have been predicted from the experience of earlier generations at the same ages.
Most millennials are renters, and nearly half of people 18 to 34 are rent-burdened — meaning 30% or more of their income goes to rent.
A recent Unison report showed that nationwide it takes nearly 15 years to save up for a 20% down payment on a median-priced home if you have a median income. In Los Angeles, someone must save for 43 years; in New York City and Miami, it’s 36 years; and San Diego, 31.
Basically, at 26 at my median-income job, I’ll be 69 when I have enough money for a down payment in LA, or, I could head for San Diego when I’m 57.
STEVE CORTEZ HAS SOME FIGURES
Joe Biden slams the door shut on home ownership, especially for young Americans.
See the numbers in a new Cortes #ChalkTalk https://t.co/bWsWVOZTgM pic.twitter.com/KXvlGiLInI
— Steve Cortes (@CortesSteve) April 19, 2022
CNN’S SOLUTION IS BIG GOVERNMENT
CNN reports: It is past time that the federal government — which has largely avoided this discussion — step in. There was a comprehensive affordable housing plan at the start of 2018 from Massachusetts Sen. Elizabeth Warren proposing the construction of three million new housing units, a down-payment assistance program, and limits on investor purchases of single-family homes.
Their solution is always more big government and Warren-style communism. The better solution is to stop spending money we don’t have, and make energy and food cheap again with policies that work. We might also demand an end to free money to colleges.
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Some believe that voting has or will control the course of this nation. Each time someone comes into office no matter which party the over spending continues. This is treason. Now were looking into the financial abyss, inflation, deflation and stagflation are all rapidly approaching.
A food crisis is approaching. What will it take for everyone to repent from their sins? So much evil is coming to the point that our enemies will rule over us and our dollar will collapse. What then? The enemy within is our sinful lifestyles and our mocking of God. Tsunamis, famine and plaques respect no persons.
Baby Boomers were in the same boat back in 1980. We corrected this problem by voting for an America First President – Reagan. The Godless Communist Democrat Liberal Losers saw their march to a Communist Utopia come to an abrupt halt in the 1980s. When The People spoke again in 2016 and the Godless Communist Democrat Liberal Losers pulled out the stops and stole the 2020 Election.
We have seen this before. There was the Communist FDR. Eisenhower stopped the Communist march. Then Kennedy stole the 1960 election and LBJ allowed Communism to flourish in the 1960s. Nixon tried to stop the Communist march in the 1970s. We have been in a fight against Tyrants since the beginning of the Nation, but it has been Democrat Jackasses who have been our most dangerous enemy. We need to crush the Democrat Party. It was created by tyrants and will always be a party of tyrants. If you’re not an America First Patriot, then you are a Globalist and the enemy of everyone who loves Life, Liberty, and the pursuit of Happiness.