So mortgage rates have hit EIGHT PERCENT … thanks in large part to the UniParty spending frenzy on endless-wars and COVID. And there is no end in sight because the UniParty intends to continue deficit spending … which means the budget deficit is effectively being paid for through inflation, i.e. by devaluing the dollar, a hidden, dishonest tax, which is what’s behind the higher interest rates.
And the UniParty is fine with that. They already have their homes and second homes and in some cases third, fourth and fifth homes. They believe in a permanent ruling elite, themselves, and a compliant ruled class, the rest of us. Ownership gives you greater autonomy from government, i.e. form the ruling class, than renting … which is why our UniParty rulers have no problem with denying future generations the dignity and security of home ownership. You will own nothing and be happy.
As mortgage rates hit 8% for the first time in 23 years, affordability continues to fall off a cliff.
The Housing Affordability Index just hit a fresh record low, at ~90.
This means that housing affordability is officially down 50% since 2021.
Since then peak in 2012, housing… pic.twitter.com/8LrplZtztq
— The Kobeissi Letter (@KobeissiLetter) October 23, 2023
