CNN: As Rent Inflation Remains Sticky, Rising Mortgages Fueling ‘Worst Affordability Crisis’ in Housing in 40 Years
On Friday’s broadcast of “CNN This Morning,” co-host Phil Mattingly and CNN International host Julia Chatterley discussed the surge in mortgage rates and said that the skyrocketing mortgage rates have contributed to “the worst affordability crisis in housing that we’ve seen for four decades” that won’t “really change until the Federal Reserve starts to bring rates down, these things ease, people start to sell their homes, and that’s going to take some time” and that comes as rent prices remain high and are one of the stickiest inflation components.
Mattingly stated, “[M]ortgage rates in the United States have soared to their highest level in more than 20 years. Now, according to the data from Freddie Mac, the 30-year fixed rate mortgage averaged above 7% over the week ending yesterday. A year ago, just over 5%.”
Chatterley added that “I think the other thing to remember, first and foremost, about this interest rate, it assumes a 20% down payment. It assumes you have an excellent credit score…so, if you don’t have those two things, actually you’re probably being offered –.”
Co-host Poppy Harlow then cut in to say “Worse.”
Chatterley responded, “Yes. So, that’s the first thing to remember. But this is just one component of actually what has combined to be the worst affordability crisis in housing that we’ve seen for four decades. You have sky-high — relative, sky-high mortgage rates. You also have a lack of supply of homes on the market. Then you also have actually near-record home prices, too. Combine all those things, you’ve got a triple whammy that’s having a pretty devastating effect. Let me just show you — to your point — what mortgage rates have looked like over the last few years. Now, if you were lucky enough to lock in rates in August of 2021, well done. Let’s say your mortgage repayment was $1,000 there. Today, your option is paying double that, even for above income — average income families. That’s a huge whack. So, you understand the problem here.”
She continued, “Now, it’s great — let’s be clear — if you’re a homeowner. But if the big American Dream is to own your home, perhaps leave that money to your kids one day, that’s getting further and further away, and it doesn’t really change until the Federal Reserve starts to bring rates down, these things ease, people start to sell their homes, and that’s going to take some time.”
Mattingly then pointed out, “It’s also coming as rent prices remain very high, one of the stickiest parts of the inflation issue as well.”
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EXCLUSIVE: Migrants Transferred from Bronx Hotel to Queens Village Tents — Locals Protest Move
Migrant asylum seekers staying at a Bronx hotel in New York City were promptly evicted on Thursday and taken to a soft-sided shelter in Queens Village, according to one of those moved. Despite recent protests by local residents concerned about the arrival of an expected 1,000 single adult migrants, the transfers from the Bronx hotel began Thursday afternoon. Migrants were bused in, taken to an intake room, and processed into the facility by New York City homeless shelter staff members.
The shelter, near the Creedmoor Psychiatric Center in Queens, has been the site of protests carried out by residents near the shelter who are unhappy with the expected arrival of up to 1,000 single adult migrants being transferred from New York City hotels. According to Mayor Eric Adams, single adult migrants are moving from the hotels to make way for migrant family units. Breitbart Texas received photographs of the migrant transfer process from a Venezuelan migrant formerly residing at the Bronx hotel.
Danny, an asylum seeker from Venezuela, told Breitbart Texas he received written notice of transfer from the hotel on Wednesday. Danny, who entered the United States near Brownsville, Texas, traveled to New York City and was housed in the Bronx hotel. He had found employment with a commercial cleaning company. The Venezuelan migrant says he will probably be forced to quit his employment after his move to the shelter in Queens.
The written notice of transfer in Spanish, signed by Erika Pula, a program director at the New York City contracted shelter system, informed Migrants they would be moved from the hotel to an undisclosed shelter in Queens on Saturday.
Letter from NYC officials notifying migrants of forced move from hotel to a tent facility in Queens. (Danny — Venezuelan Migrant)
The letter, translated into English, reads:
My Dear Clients,
We regret to inform you that there has been a change in your status at the refuge. All of the clients should be ready on Saturday morning at 10:00 am to be transported to a place in Queens by bus. We understand that this can cause inconveniences, but we assure you that we can offer you black bags so you can pack and transport your belongings.
If you cannot move to Queens, and you have an alternative place to go, or if you wish to return to your country of origin, we beg that you notify us as soon as possible. We will do everything possible to help you during this transition.
Thank you for your understanding and cooperation.
Kind Regards,
Erika Pula
Program Director
Danny says a subsequent notice was posted throughout the hotel informing the migrants they would be moved by 4:00 pm on Thursday. He says he was bused to a soft-sided shelter at Queens Village long before the deadline. He claimed he was threatened with removal from the sheltering program when workers observed him taking photographs of the bus ride and the shelter receiving area.
Notices were place in Bronx hotel letting migrants know when they were being kicked out. (Danny — Venezuelan Migrant)
Although the letter sent by the program director did not directly suggest migrants return to their country of origin, the idea expressed in the letter that asylum-seeking migrants would consider returning to their home country voluntarily was perplexing to Danny. He says he left everything behind when he decided to come to the United States.
“I left my home country because of the instability of our government and fear of living in Venezuela,” he told Breitbart.
“There is no way returning is an option, at least not one that I will come to voluntarily,” Danny emphasized.
Danny left Venezuela several years ago and lived in Columbia prior to making his way to the United States, he told Breitbart.
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The idea that the migrants may voluntarily choose to return to their home country may be wishful thinking on behalf of the city that once expressed views that the migrants are asylum seekers deserving of refuge. The estimated cost of housing the migrants in New York City has climbed significantly in recent weeks. At a recent press conference, Adams declared the crisis would cost the city $12 billion over the next three fiscal years.
Daniel told Breitbart Texas he would remain at the shelter for the time being and hopes to move soon to his own place. He says the move from the hotel to the large tent in Queens offers no privacy as hundreds are sleeping on cots under one roof. Like many other migrants in New York City’s shelter system, Danny found unauthorized employment near the hotel in the Bronx. He says he will likely have to quit work due to the distance from the new shelter in Queens.
Randy Clark is a 32-year veteran of the United States Border Patrol. Prior to his retirement, he served as the Division Chief for Law Enforcement Operations, directing operations for nine Border Patrol Stations within the Del Rio, Texas, Sector. Follow him on Twitter @RandyClarkBBTX.
Chicago Mayor: We Have ‘Humanitarian Crisis’ with Migrants, ‘We’re Committed’ to Being a Sanctuary City
During an interview with NBC Chicago on Friday, Chicago Mayor Brandon Johnson said that while the city is dealing with a “humanitarian crisis” over the migrants that have been sent to the city, “we’re committed to making sure that…the City of Chicago’s a sanctuary city, that we’re going to continue to embrace that.”
NBC Chicago Political Reporter Mary Ann Ahern asked, “Migrants, even more have arrived in the last week. We have aldermen who are concerned. They’re talking about crimes that are being committed. If you’ve walked — as I did yesterday — down State Street, it’s not safe. What’s going on and what are you going to do to get help — move, perhaps have the suburbs, as you mentioned, help you out?”
Johnson answered, “Well, look, everyone is participating in working towards addressing this humanitarian crisis. The State of Illinois, and I appreciate the support of Gov. JB Pritzker (D), the board president, Cook County Board President Toni Preckwinkle (D), as well as the full force of government and the City of Chicago. Since I’ve been in office, 90 more busses have arrived, thousands of families continue to show up over the course of these last 90 days. And so, what I’ve said repeatedly, and I’ll say it again, that we’re committed to making sure that what was passed 40 years ago, by Mayor Harold Washington, to make sure that the City of Chicago’s a sanctuary city, that we’re going to continue to embrace that. And so, we’re going to continue to make sure, like we’ve been doing, to expand shelters, and we’ve had — we’ve put ten more shelters online since I’ve been in office, and, of course, we’re going to continue to work to move people out of police stations.”
Follow Ian Hanchett on Twitter @IanHanchett
CUT AND PASTE YOUTUBE LINKS
IN THIS LONG INVERVIEW TUCKER AND KENNEDY COVER MANY TOPICS. KENNEDY IS VERY ARTICULATE AND KNOWS HIS FACTS.
KENNEDY ADDRESSES THE ISSUE OF THE BIDEN - MAYORKAS ORCHESTRATED INVASION
Tucker Carlson Interviews Robert F Kennedy Jr
Texas Police: Illegal Alien Is Person of Interest in Killing of 11-Year-Old Girl
An illegal alien has been named as a person of interest after an 11-year-old girl’s father found her strangled to death and stuffed under a bed where she lived in Pasadena, Texas, on August 12.
Police have identified the individual as 18-year-old Juan Carlos Garcia-Rodriguez, who lived at the apartment complex where Maria Gonzalez was also living, KHOU reported Friday, noting the man disappeared on Monday:
According to Pasadena Police Chief Josh Bruegger, officials spoke with and collected DNA from Garcia-Rodriguez not long after the child’s body was found, but he was not their focus at the time.
In a social media post Friday, the department said the apartment complex’s workers had cooperated with authorities and none of them appeared to have any involvement in the case.
Officials shared more details about their investigation:
While investigators were processing the crime scene, a single key was located inside the apartment and collected as evidence. This key has since been processed by our crime scene investigators and was not found to open any doors at the victim’s residence. Our investigators also confirmed that the young girl’s body was inside a plastic trash bag that was placed inside a laundry basket and concealed under a bed inside the home.
The child’s father, Carmelo Gonzalez, left her home by herself on August 12 because he had to go to work, according to Breitbart News.
When she messaged him saying someone was knocking on their door, he told her not to open it, and she said she would obey him. That was the last time he heard from her despite calling her repeatedly.
He then asked relatives living nearby to check on her, but they could not find her. When Gonzalez made it home from work a few hours later, he found the girl’s body underneath the bed and called 911 for help.
The medical examiner concluded she died of asphyxiation due to strangulation. She had also been sexually assaulted.
“Gonzalez is not considered a suspect because his alibi appears to be solid,” the Breitbart News report said.
According to KHOU, the key authorities found opened the apartment where Garcia-Rodriguez had been staying with two other individuals who said they were only acquainted with him. Those individuals had their keys and told officials they tried to get the man’s key from him before he left, but he told them he wanted to hold onto it.
However, Bruegger said the young man did not have a key, adding, “There was a key to that apartment in the victim’s apartment.”
The KHOU report continued:
Bruegger said Garcia-Rodriguez is Guatemalan who is in the U.S. illegally. Earlier this year, he was apprehended by U.S. Customs and Border Protection before he was released to sponsors in Baton Rouge, Louisiana. It was there that his sponsors had reached out to their connections in Pasadena and told them that Garcia-Rodriguez needed work and a place to stay. That’s how Garcia-Rodriguez ended up at the same apartment complex Maria stayed in.
Law enforcement have since contacted federal officials “and flagged Garcia-Rodriguez with the U.S. Department of Homeland Security just in case he tries to cross the border,” the article stated.
The KHOU report noted Gonzalez and his daughter arrived from Guatemala four years ago while her mother remains in their home country.
In July, an illegal alien accused of murder was counted among the more than two million illegals freed into the United States as President Joe Biden’s (D) Department of Homeland Security Secretary Alejandro Mayorkas stood by, Breitbart News reported, adding the wave of releases occurred as a result of the president’s catch and release network.
FLASHBACK: Ted Cruz to Border Chief Mayorkas: “Your Refusal to Do Your Job Is Revolting”
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