Friday, January 27, 2023

JOE BIDEN'S ILLEGALS FIRST DOCTRINE - Rents Spike for Americans as Biden’s Migrants Fill Apartments

 

Rents Spike for Americans as Biden’s Migrants Fill Apartments

A sign advertises an apartment for rent along a row of brownstone townhouses in the Fort Greene neighborhood on June 24, 2016 in the Brooklyn borough of New York City. According to a survey released on Thursday by real-estate firm RealtyTrac, Brooklyn ranked as the most unaffordable place to live …
Drew Angerer/Getty Images
10:08

Half of American renters — or 25 million people — now spend more than 30 percent of their pre-tax income on housing amid President Joe Biden’s wage-cutting, rent-spiking welcome for mass migration.

“The national average rent-to-income (RTI) reached 30% for the first time in our 20+ years of tracking history, up 1.5% from year-ago,” said a housing report by the Wall Street firm of Moody’s Analytics.

“Rent … rose faster than incomes” in 75 metro areas, according to the report.

Back in 1999, rents consumed roughly 22.5 percent of the median income, the report said.

The median income is the mid-point in wages: Half of Americans earn more, and half earn less, than the median income.

“These trends on wages not keeping up with rents are exactly what anyone with a morsel of common sense knows will happen if immigration levels are too high,” said Andrew Good, at NumbersUSA.com. He added:

The American Dream for today’s Americans will only be pushed further out of reach unless we get serious about changing course. It is critically important that we reduce immigration unless we want to [change from] a middle class nation to a nation of renters.”

Since the 1970s, rents have risen in every state as Congress expanded the resident population of immigrants, especially after Congress doubled legal immigration in 1990. That immigrant population has grown from roughly 30 million in 1999 to almost 50 million in early 2023. The inflow raised housing costs just as inflation pumps up gasoline prices.

Rents rose by 8.7 percent in 2021 and 9 percent in 2022 as Biden’s huge inflow of roughly 3 million southern migrants pooled their low incomes to rent houses and apartments.

In contrast, rents rose by 3.6 percent per year during President Donald Trump’s low-migration term.

Coronavirus out-migration from major cities did reduce rent pressure in some major cities, the Moody’s Analytics report said. But “the South Atlantic and Southwest experienced the opposite due to strong in-migration,” the report noted.

For example, to keep pace with rising rents, wages would have to rise by more than 9.3 percent in Knoxville, Tennessee, 75 percent in Chattanooga, 8.9 percent in Charleston, South Carolina, and 6.6 percent in Greensboro and Winston-Salem, the report noted.

Rents in the South Atlantic states consumed almost 25 percent of median income, up from 21.8 percent in 2019.

Homes are cheaper in the low-migration midwest and southwest, where rents consumed 20 percent and 19 percent of median pre-tax income. But even in the south, many Americans are being pushed out of their homes. In Arizona, Scottsdale Realtors.com reported on January 14:

For the past few months, Morgan Rice has called Coconino National Forest home.

Rice and his girlfriend — along with their dog, Rio, and their cat, Kit — have been camping full-time in their 32-foot, 2006 Ford diesel van since August. When monthly rent for their one-bedroom apartment in Avondale increased from around $800 to over $1,300, the couple simply couldn’t keep up.

“They outpriced us,” Rice said.

Yet Democrats continue to push for more migration, even though the rising rents are forcing young Americans to delay marriage and move back to their parent’s homes.

Schumer

Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters during a news conference at the U.S. Capitol on July 28, 2022, in Washington, DC. (Drew Angerer/Getty Images)

“We have a [U.S.] population that is not reproducing on its own,” Sen. Chuck Schumer (D-NY) ADMITTED in November, before calling for even more migration:

The only way we’re going to have a great future in America is if we welcome and embrace immigrants, the dreamers and all of them — because our ultimate goal is to help the Dreamers [illegals who were brought in by their parents] get a path to citizenship for all 11 million — or however many undocumented there are here [emphasis added].

Rep. Alexandria Ocasio-Cortez, D-N.Y., conducts a news conference in the Capitol Visitor Center on banning members of Congress from trading stocks on Thursday, April 7, 2022. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

Rep. Alexandria Ocasio-Cortez, D-N.Y., conducts a news conference in the Capitol Visitor Center on banning members of Congress from trading stocks on Thursday, April 7, 2022. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

New York rents take almost 70 percent of the median wage, yet Rep. Alexandria Ocasio-Cortez (D-NY) is urging more migration into her high-rent, low-wage district.  On January 25, she and almost 80 other Democrats signed a letter to President Joe Biden asking for more migration:

We believe that your administration can and must continue to expand legal pathways for migrants and refugees into the United States — without further dismantling the right to seek asylum at our border.

The demand for more migration is also pushed by GOP donors, especially donors with large real-estate holdings.

Moody’s report, however, did not break out the impact caused by President Joe Biden’s policy of easy migration, which has added roughly 4 million legal and illegal migrants during 2022.

FILE - President Joe Biden talks with reporters after speaking in the East Room of the White House in Washington, Jan 20, 2023. Senior Democratic lawmakers turned sharply more critical Sunday of President Joe Biden's handling of classified materials after the FBI discovered additional items with classified markings at Biden's home. (AP Photo/Susan Walsh, File)

President Joe Biden talks with reporters after speaking in the East Room of the White House in Washington, Jan 20, 2023. (AP Photo/Susan Walsh)

The Moody’s report was covered by the New York Times, but it also suppressed mention of immigration as it sketched rising costs:

“We’ve been moving in this direction for decades,” said Martha Galvez, the executive director of the Housing Solutions Lab at New York University’s Furman Center. “Since the ’70s, rents have been rising faster than incomes. And among lower-income households, high rent burdens have been the norm for a long time.”

Since January 2021, Biden’s migration has added at least 4 million southern migrants to the United States population, not counting at least two million legal immigrants and visa workers. Assuming six people per apartment, that’s an extra demand for roughly 700,000 apartments in two years when only 800,000 new apartments were completed.

Academic research says immigration drives up rents — and also spikes housing prices in nearby locations as Americans flee from the civic impact of the new migrants.

“Using data that span from 2002–2012, we find, as have others, that immigration inflows are associated with rising rents and prices,” according to a March 2017 study of almost 300 “Metropolitan Statistical Areas (MSA), titled “Immigration and housing: A spatial econometric analysis.” The summary reported:

An increase in the number of immigrants equal to 1 percent of an MSA’s total population was linked with a 0.8 percent increase in rents and a 0.8 percent increase in home prices.

This same increase in immigrants was associated with a 1.6 percent rise in rents and a 9.6 percent rise in home prices in surrounding MSAs.

Investors and analysts recognize the link between migration and housing costs — even as they also try to minimize public understanding of the link. For example, in 2018, an article in a real-estate publication noted that “immigration will be necessary to fuel multifamily housing demand.”

Immigrants now comprise roughly 14 percent — or one in seven — of all residents in the United States. That inflow has helped to spike rents and housing costs in California and other coastal states, especially when politicians and builders jointly roll back suburban zoning rules.

Biden’s multi-mullion person inrush is expected to continue in 2023 — and will likely push rents even higher amid a likely record production of 300,000 new apartments.

New York rents demand the largest share of median income, or almost 70 percent of the median wage, the report said. San Francisco fell to eighth place as prices surged in high-migration cities, such as Miami, Los Angeles, and Boston.

The report noted:

At the state level, three states topped the 30% rent-burdened threshold similar to Q3: Massachusetts (32.9%), Florida (32.6%), and New York (31.2%).

Over the past three years, Nevada (+4.9%), Florida (+4.8%), Alabama (+4.2%), South Carolina (+4.2%), Arizona (+4.1%), and New Mexico (4.0%) all experienced the highest increase in the state’s average rent burdening, attributed to significantly higher [greater than] (>~20%) rent growth than respective median household income growth during the three-year period.

But affordability declined the most in southern states, the report said. “Median household incomes were … not keeping pace with the rent growth, creating the biggest disparity in growth rates among all regions,” the report said:

https://www.youtube.com/watch?v=2HGcF7flCeE

The federal government has long operated an economic policy of Extraction Migration. This colonialism-like policy extracts vast amounts of human resources from needy countries and uses the imported workers, renters, and consumers to grow Wall Street and the economy.

The migrant inflow has successfully forced down Americans’ wages and also boosted rents and housing prices. The inflow has also pushed many native-born Americans out of careers in a wide variety of business sectors and contributed to the rising death rate of poor Americans.

The population inflow also reduces the political clout of native-born Americans, because it allows elites to divorce themselves from the needs and interests of ordinary Americans.

A 54 percent majority of Americans say Biden is allowing a southern border invasion, according to an August 2022 poll commissioned by the left-of-center National Public Radio (NPR). The 54 percent “Invasion” majority included 76 percent of Republicans, 46 percent of independents, and even 40 percent of Democrats.

NYTimes: Immigration Spikes Housing Costs

7AP Photo/Rebecca Blackwell

NEIL MUNRO

9 Oct 20220

6:20

Mass migration has quickly spiked Canadians’ housing prices and rapidly reduced the share of Canadians who can own homes, admits the pro-migration New York Times.

“Basically southern Ontario has become unaffordable” amid a massive inflow of immigrants, real-estate agent Bryan Adlam told the newspaper for an October 8 article, and added:

“I have two clients I have right now whose budget is $500,000 to $600,000, which is not chump change,” he said. “Are they going to be renters for life? Probably. Has owning a home become unattainable for someone on the lower income echelon? I would say, yes.”

The impact was also admitted in a 2021 report by the government-run Canada Mortgage and Housing Corporation:

House price surges in Toronto and Vancouver between 2015 and 2019, partly owing to much higher international migration, [and] were the catalyst for significant changes in domestic migration patterns within their respective provinces.

The rising house prices also help push young Canadians out of the major cities, the 2021 report noted:

Since 2015, a greater share of people from nearly every age cohort moved out of Toronto and Vancouver to live in other regions of their respective provinces.

For people 25-44 years old, surging house prices in Toronto and Vancouver led to a greater incidence of “drive until you qualify.” Homeownership had become too expensive in Toronto and Vancouver for many potential first-time buyers in this age group

 

“Census data released this month showed that the [homeownership] rate fell to 66.5 percent last year from a peak of 69 percent 11 years ago,” the New York Times reported.

The newspaper’s pro-migration editors downplayed the role of immigration, but the reporter repeatedly hinted at the relationship, writing:

HAMILTON, Ontario — Even with a budget of 1 million Canadian dollars, Ritu Choudhary and Nippun Goyal, a newly married couple living in Toronto, discovered that buying a house there would be impossible. The competition inside the city and nearby was so stiff that they had to consider 50 properties, before finally outbidding everyone to pay 995,000 Canadian dollars, or about $730,000.

Canada’s housing costs are already among the highest in the world, driven, in part, by robust real estate markets in its largest cities, like Toronto and Vancouver, that have a global appeal.

On October 7, the Wall Street Journal also admitted migration’s role in pricing ordinary Canadians out of good housing:

Population growth, a shortage of housing stock and low interest rates helped push up house prices in Canada’s biggest centers, prompting would-be buyers to look farther afield and drive up prices in smaller, far-flung communities unaccustomed to housing booms.

The WSJ also quoted a low-wage immigrant — with eight other family members — who are helping to drive up real-estate prices:

Kanishka Noorzai and his wife, his four sons, his parents and his younger sister arrived here in February, from Afghanistan via Albania, and settled in the Waterloo region, an urban center of a half-million people west of Toronto. After a monthslong search that took him to apartments, townhouses and other domiciles, he found a three-bedroom bungalow — at a cost of nearly $3,000 a month for a one-year lease, or “really, really above our budget,” said Mr. Noorzai, 43 years old. He is currently working part time as a security guard but is seeking full-time hours.

“I really was surprised,” he said, “because I did not think it would be that difficult to find a house in Canada. It was a nightmare.”

Noorzai’s group can likely pay for their expensive housing because it includes at least five working-age people who can pool their low wages.

Immigration is also changing the housing markets for Americans as it shifts more wealth from wages to Wall Street.

Wealthy investors are using their immigration-related profits to buy more housing that would otherwise would have put young Americans on a road to middle-class housing wealth, the Washington Post reported October *

ROUND ROCK, Tex. — Adam and Tahnya Gaston arrived in this Austin suburb in June with a toddler, a dog and enough money for a down payment. But within days they scrapped their plans for buying a house, deterred by soaring home prices and rising mortgage rates. Instead, they’re paying $4,000 a month to lease a three-story house in a new development aimed squarely at renters.

It’s one of thousands of “build-to-rent” developments springing up around the country, billed as an attainable route to single-family homes and front yards at a time when homeownership is increasingly out of reach. Developers are expected to add 105,000 homes in such communities this year, and 50 percent more by 2025, according to real estate consulting firm Hunter Housing Economics.

“We fit the demographic of people who, five years ago, would’ve bought a huge house in the suburbs,” Adam Gaston told the Post. “But now prices are crazy, and we’re making different decisions.”

Nearly all corporate-run media outlets in the United States favor migration. So their editors hire pro-migration reporters for the immigration beat. Very few of those immigration reporters want to recognize Americans’ views about migration, or the damaging impact of international migration on Americans’ pocketbooks, housing, and wealth.

But many ordinary business reporters want to follow the money, and they are freer to sketch migration’s economic impact in articles that are not directly about U.S. migration. Their articles tell careful readers about immigration’s impact on housing prices in Canada, or about fights over zoning regulations.

Breitbart News, however, extensively covers the U.S. government’s economic strategy of extraction migration and has covered the impact of migration on housing costs in the United StatesCanadaAustralia, and New Zealand.

 

 

 

New York City Wants $1 Billion to Help Exploit Biden’s Migrants

185Shawn Inglima/New York Daily News/Tribune News Service/STEFANI REYNOLDS/AFP via Getty Images

NEIL MUNRO

7 Oct 20220

4:59

New York City’s Mayor Eric Adams wants $1 billion from other Americans to subsidize the city’s economic strategy of importing penniless immigrants for use by New York’s business leaders.

“We need help — and we need to now,” Democratic Mayor Eric Adams said in a Friday press conference, adding:

Today we’re issuing a clear message — [the] time for aid to New York is now. We need help from the federal government. We ned help from the state of New York. Our city is doing our part and now others must step up and join us …. We need those to come through.

Adams also demanded preferential treatment from legislators nationwide:

We need legislation that will allow these asylum seekers to legally work now, not the six months … We need a coordinated effort to move asylum-seekers to other cities in this country to ensure everyone is doing their part and Congress must pass emergency financial relief for our city and others. Finally, we need a bipartisan effort to deliver long awaited immigration reform.

“We expect to spend at least $1 billion by the end of the fiscal year on this crisis, all because we have a functional and compassionate system,” he said.

 

Eric Adams, mayor of New York, speaks to members of the media during a New York State Financial Control Board meeting in New York, on Tuesday, Sept. 6, 2022. (Stephanie Keith/Bloomberg via Getty Images)

The demand was $500 million two weeks ago, as officials counted the cost of housing migrants who are being drawn to the free overnight shelters attracted to the jobs and schooling in the so-called “sanctuary city.”

City leaders want more migrants because they help to cut wages, inflate real-estate rents and values and boost profit for local business leaders.

The policy also generates many customers for the city’s welfare, aid, housing, education, and medical agencies. For example, Adams admitted in his speech that the city is providing overnight shelters to 61,000 homeless people each night, and is adding 5,500 migrant children to the overcrowded and failing schools needed by non-wealthy Americans in the city.

The cheap-labor migrants also provide more profits for investors in the city businesses. Without the extra labor, the investors otherwise would be forced to hire unemployed Americans in upstate New York cities, or other states such as New Jersey, Maine, New Hampshire, and West Virginia.

Overall, the Biden migrants being welcomed by Adams allow the city’s Democratic leaders to preserve their high/low economy, where a small number of wealthy landlords and investors keep political power amid a fractured city of divided, diverse, distracted, and poor voters.

Between the 1940s and about 1980, the city’s wage gap was much smaller, in part, because nearly all migrants to the city were outspoken, equality-minded Americans from nearby U.S. states, such as Pennsylvania and New Jersey.

City leaders hide their post-1990s exploitation of migrants behind the 1950s “Nation of Immigrants” narrative. That elite-imposed narrative repurposes the Statue of Liberty from a celebration of Americans’ constitution into a “Golden Door” invite for foreign economic migrants.

 

In his speech, Adams repeatedly declared his support for the Democrats’ policy of extracting migrants from poor countries, even as he tried to blame Republican governors for the resulting economic damage to American pocketbooks:

Our right-to-shelter laws, our social services, and our values are being exploited by others for political gain. New Yorkers are angry. I am angry too. We have not asked for this. There was never any agreement to take on the job of supporting thousands of asylum seekers. This responsibility was simply handed to us without warning as buses began showing up. There’s no playbook for this. No precedent.

But despite all this, our city’s response has been nothing short of heroic. From setting up welcome centers, organizing housing, health care, and transportation, New York city agencies and their community partners have done great work in the face of overwhelming need. New Yorkers as always, have responded to this crisis by pulling together as one.

Yet Adams simultaneously denied that the Democrats’ sanctuary city policies have any role in the migrants’ arrival.

“This crisis is not of our own making, but one that will affect everyone in this city now, and in the months ahead,” he insisted, before ending his speech with a contradictory flourish:

Generations from now, there will be many Americans who will trace their stories back to this moment in time. Grandchildren who will recall the day their grandparent arrived here in New York City and found compassion — not cruelty. A place to lay their head, a warm meal, a chance at a better future. Thank you New York, for doing the right thing.

Breitbart News has extensively covered the damage caused to citizens by the establishment’s policy of Extraction Migration.

 

 

 

DEMOCRAT-CONTROLLED CITIES IN MELTDOWN  -  A LOOK AT SANCTUARY CITY CHICAGO   -  THE BLACK ON BLACK MURDER CAPITAL OF AMERICA

BIG BUSINESSES FLEE CHICAGO, CITIES WILL BE DEATH CAMPS, HOMELESSNESS, DANGEROUS RESTAURANTS

https://www.youtube.com/watch?v=bq0Ns6adqzA

 

‘Look What They’ve Turned Your Nation’s Capital Into’: Reporter Shows Video of Tent City Across the Street from the WH

By Craig Bannister | October 5, 2022 | 3:10pm EDT

 

 

 

 

(Screenshot)

“You should know what a decrepit ***-hole has been created of your Nation’s Capital by this ruling regime,” a reporter tweeted Tuesday in a video report showing images of a squalid “tent city” – standing one block away from Pres. Joe Biden’s White House.

“Across the street from the White House is a tent city. Check it out. It’s a literal tent city. I’m going to show you. This is a single block from the White House grounds,” Newsmax journalist Benny Johnson says in a video posted to his Twitter page.

 

“Look what they’ve turned your Nation’s Capital into: squalor, squalor,” Johnson says, standing with the tent city in the background near McPherson Square in Washington, D.C.

“Have you seen this on the news? Anybody shown you this? Huh?” Johnson asks.

 

(Screenshot)

“Those are seven-figure apartments right there. And, then, look: this is what you get to look out at. Right there,” Johnson says, displaying a view of apartments across the street overlooking the tent city.

“This is what Joe Biden’s created of this nation. It’s a sunken place, baby. A sunken place. Total and complete decay,” Johnson says.

“Leftism creates decay,” he concludes.

 

The Collectivist War on the Middle Class

By Paul Krause

Despite posturing as if they care about the American middle class, behind closed doors our political elites, alongside their media servants and the guardians of academia who do the bidding of the collectivist elite, despise them. The war against the American middle class is intentional, for it is only the American middle class that has power to stop global collectivism and the new feudalism emerging across the world. To prevent this from happening, our elites and their allies divide the American middle class to weaken and subdue it, thus enabling their collectivist agenda to continue apace, even as they speak platitudes to their middle-class victims.

There are two middle classes in America: the servile middle class and the independent middle class. The servile middle class is made up of those who work for global corporations and our governments: including local, state, and federal. These middle class and upper middle class livelihoods, northern Virginia being ground zero, are the byproduct of serving the global collective elite who run the corporations and operate the governments these Americans serve.

The independent middle class, by contrast -- the middle class of entrepreneurs, those who work for them, and the upper middle classes who work for the businesses that are targeted for destruction by the collective elite (like oil and natural gas businesses and their employees) -- is free from the parasitic rot of global collectivism and must, therefore, be destroyed. For this middle class exists independent of the collectivist machinery.

The politicization of the servile middle class has become apparent for all to see. Corporations are mandating woke policies that all must accept to continue working for them. Agents of the state are sent to hound and arrest their fellow citizens on behalf of the global collectivist elite. If you are to remain a middle-class American, then you must be a slave to the collectivist elite to keep your relatively comfortable and cushy life.

This is also why entrepreneurship and “capitalism” are attacked by the collectivist totalitarians and is represented as a history of rape, theft, and pillage -- something to be ashamed of and something that “good” and “honest” (read: servile) people living in the twenty-first century shouldn’t be engaged in. By becoming an entrepreneur, a small business owner, and employer of many workers, you perpetuate the system of racist capitalism built on theft, exploitation, and slavery! Not only that, but you’re also engaged in exploiting your workers as we speak.

 

America’s middle class is also intensely patriotic. This too is problematic for the collectivist elite. Patriotism, by definition, is anti-globalist and anti-collectivist. Patriotism is particular; patriotism values the particular love of country and the particular defense of what one has and doesn’t want to lose. No surprise, then, that patriotism is pilloried and excoriated in the media, in education, and even by politicians who call it xenophobia and racism.

When you consider the potential power of the American middle class if it was united, it begins to make sense why our politicians, our media, and our educational system is set on dividing the middle class. Dividing the American middle class and causing it to go to war with itself  it weak and susceptible to exploitation by global collectivists. The call to unity rings hollow and propagandists in the media, Bolshevik educators, and government officials bought by global collectivists teach Americans to hate each other over crimes and sins they have not committed.

Furthermore, shutting down small businesses puts middle-class Americans out of work who must then turn to woke corporations or the government (which serves the interests of the global collectivist elite) to survive. Thus, these middle-class Americans are made slaves to the global collectivist system. This is not accidental but intentional.

By destroying all small businesses, local churches, private and religious schools, and all the institutions that are not owned by the state or woke corporations Americans are forced to submit to their enemies who now control them through indoctrination -- also called “public education” -- and their paycheck (say something they do not like or approve and you will get fired). You survive, but as a slave and servant to the global collectivist system. Some life. Some “freedom.”

The globalist and collectivist war against the middle class is only intensifying. As the world becomes more interconnected, the battle between patriotic middle-class Americans and the globe-trotting collectivist elite will become much more heated. So long as the American middle class still retains independence, owns its own shops and homes, and has the ability to send their children to private and religious schools for education, the middle class will be targeted as the clear and present danger to the global collectivist system.

 

Middle-class Americans must stand up and resist the punishing tentacles of the global leviathan. True liberty and real democracy, national democracy, depends on it. Don’t be fooled into thinking otherwise.

If there is any future for liberty and democracy instead of collective bureaucracy and global managerialism, that future rests in the hand and spirit of the American middle class, especially the American middle class in “Flyover Country,” the last region of the United States where an independent and self-sufficient middle class exists, unlike the woke middle class serving global corporations or the Deep State on the American coasts.

Paul Krause is the editor of VoegelinView. He is the author of The Odyssey of Love: A Christian Guide to the Great Books, The Politics of Platoand contributed to The College Lecture Today and Making Sense of Diseases and Disasters

Image: Nicholas Eckhart

 

PAYING LIVING WAGES TO LEGALS IS DAMNED COMMIE!!!!!!

                            THE NAFTA DEMOCRAT PARTY WORKING FOR THEM

 

 

Study: More than 7-in-10 California Immigrant

Welfare


https://www.breitbart.com/politics/2018/12/04/study-more-than-7-in-10-california-immigrant-households-are-on-welfare/

 

More than 7-in-10 households headed by immigrants in the state of California are on taxpayer-funded welfare, a new study reveals.




Look At The Extreme Social Insanity That Is Spreading All Over America


“More than 750 million people want to migrate to another country permanently, according to Gallup research published Monday, as 150 world leaders sign up to the controversial UN global compact which critics say makes migration a human right.”  VIRGINIA HALE

The Inevitable Housing Crisis Is Killing The American Dream




Not so long ago, it was the American Dream that if you work hard enough, you can build a better, richer, and fuller future for yourself and your family. A big component of that American Dream was to own a house. Because that's how you create wealth for generations. But just a short quick look around you would be enough to establish that today's broken market is translating into a broken American Dream. Living a better life than the previous generation, in a home you own has become a pipe dream for millions Nearly 11 million low-income Americans are paying more than 50% of their annual income on housing. And it is still not enough because America is facing a critical housing shortage. Times of high inflation, a brewing mortgage crisis and a worsening homelessness epidemic have shattered the quality of American family life. But this is just the beginning and things will only get worse. In today's Video, we explain the inevitable housing crisis that is killing the American Dream. Affordable housing started to decline two decades ago, and it has only gone from bad to worse in the last few years. Just in the last two years, home prices are up more than 30 percent. And that's not the case in just a few BIG cities. In fact, the U.S. now has close to 500 cities where the average cost of a home is a million dollars. Just 12 months ago, a family that could earn $80,000 a year could afford payments on a modest home. But a year later, that income requirement has shot up to $108,000. So in one year, more than 4 million renter households can no longer buy a median-priced home. But if the rising costs were not enough, insane mortgage rates are making sure to price out the middle class completely. Mortgage rates are now increasing faster than in any period in recorded history. And in a matter of months, the typical cost of owning a home has gone up by tens to hundreds of thousands of dollars. Mortgage rates have escalated from less than 3 percent in 2021 to nearly 7 percent - the highest they have been in 20 years. This becomes an even bigger deal when you take into account the mass shortages of homes in America. The number of available homes today is 40 percent lower than it was just 2 years ago which means that millions will continue to be priced out. Experts connected to the housing market are warning that the inevitable housing crisis will be based on a single reality: Housing supply is at a record low and we aren't doing enough to change that. This supply shortage has left the country in need of at least 5 million housing units immediately. But the progress on that is nowhere to be seen. The housing shortage has become a chronic problem but there's no end in sight, especially, in the current climate of economic uncertainty. Ever-increasing interest rates, fears of an impending recession, and a choked supply chain mean that home builders are hesitant to go all out. So the housing gap becomes bigger and bigger. But even if more homes are built, it will not matter as affordability is moving towards an all-time low. And this is not a big city problem anymore. Years of neglect and months of economic chaos have ensured that home prices have soared all over the country. Even areas traditionally seen as affordable are no longer viable substitutes. The locations that were seen as alternative moving options are disappearing quickly. Failing to find starter homes that fit the already stressed budget, many Americans are pushed into Rental properties. But it shouldn't come as a shock to anyone that things are arguably worse there. As middle America fails to find affordable housing, millions of Americans face evictions and housing insecurity. The result is homelessness. What America needs is access to affordable housing as soon as possible. While millions risk falling into housing insecurity, the policymakers remain slow as ever. Unfortunately, things could get even worse. It took years to get to this point and it may take decades to get out of it.

WAGE DEPRESSION AND THE BIDEN DEPRESSION

VIDEO

15 Signs That American Family Budgets Will Be Blown Through In 2023

https://www.youtube.com/watch?v=4FQQQetflEE


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