Tuesday, April 19, 2022

BIDENOMICS - NOT EVEN HALF OF AMERICA'S PLUNDERED RENTERS SAY THEY WILL EVER OWN A HOME - BIDEN'S INVASION OF MILLIONS OF ILLEGALS CONFIRMS THIS AS THE NEW AMERICAN REALITY

CALIFORNIA: HIGHEST TAXES TO PAY FOR THE LA RAZA MEX WELFARE STATE, THE HIGHEST COST OF LIVING TO PAY FOR HIGH RENTS AND HOUSING, THE GREATEST NUMBER OF ILLEGALS LIVING IN ONE STATE AND THE GREATEST NUMBER OF HOMELESS. CAN YOU DO THE MATH ON THAT???


Bidenflation: Less Than Half of Renters Expect to Ever Own a Home

US President Joe Biden speaks to members of the media prior to boarding Air Force One at Des Moines International Airport in Des Moines, Iowa, on April 12, 2022. (Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)
MANDEL NGAN/AFP via Getty Images
2:22

Less than half of Americans currently renting their home expect to ever become homeowners, a survey conducted by the Federal Reserve Bank of New York shows.

The N.Y. Fed’s 2022 Housing Survey shows that just over 43 percent of renters say they expect to own a home, the first time that number has dropped below 50 percent in the history of the surveys.

 

Home Ownership Probability

Twenty-two percent of households reported that they had planned to purchase a home but now view renting as a better financial decision. The majority of respondents either preferred to rent (36 percent) or said they were waiting for prices to come down before buying (42 percent).

Renters also expect sharp increases in their rents in the year ahead.  People who rent their home expect rents to rise by 12.8 percent one year from now compared to 5.9 percent one year ago. That’s above the 11.5 percent increase expected by the broader range of households that includes homeowners. A year ago the all-inclusive expectation was for rent increases of 6.6 percent, an indication that homeowners actually expected bigger rent increases than renters.

“This is consistent with the idea that short-term rent expectations are being shaped by the sharp increases in rent that have occurred in recent months. The expected price of rent five years from now rose to an annualized increase of 5.2 percent, compared to 4.4 percent a year ago,” N.Y. Fed economists Fatima-Ezzahra Boumahdi, Leo Goldman, Andrew Haughwout, Ben Hyman, Haoyang Liu, and Jason Somerville wrote in a blogpost at Liberty Street Economics.

Home prices have been driven sharply higher in the last two years. The Federal Housing Finance Agency’s home price index is up 23.7 percent compared with the start of 2022. The S&P/Case-Shiller home price index is up 19.2 percent compared with a year ago.

Households are expecting home prices in their zip code to rise by 7.0 percent on average, compared to 5.7 percent in February 2021.  Longer-term expectations remain more settled, with households expecting 2.2 percent annualized growth over the next five years.

Border Town USA: Migrants Busted in Michigan with Mexican Cartel’s 20K Fentanyl Pills

 

https://mexicanoccupation.blogspot.com/2022/04/joe-bidens-sabotage-of-homeland_19.html

JOE BIDEN'S SABOTAGE OF HOMELAND SECURITY - Illegal immigration is also the ways and means by which illegal drugs enter the United States. Last year, 100,000 Americans, most of them young, died of overdoses, with two-thirds of these Americans succumbing to fentanyl that is produced in China and comes through Mexico. PATRICK BUCHANAN

Gallup: Democrat Voters Unworried by Biden’s Migrant Flood

Migrants hold a demonstration demanding clearer United States migration policies, at San Ysidro crossing port in Tijuana, Baja California state, Mexico on March 2, 2021. - Thousands of migrants out of the Migrant Protection Protocol (MPP) program are stranded along the US-Mexico border without knowing when or how they will …
GUILLERMO ARIAS/AFP via Getty Images
6:46

Almost half of Democrats say they are “not at all worried” about President Joe Biden’s mass migration into Americans’ jobs and homes, according to a Gallup poll.

Forty-four percent of Democrats say they are “not at all” worried about illegal immigration, according to the poll of 1,017 adults, which was taken March 1-18.

Only 18 percent of Democrats — alongside 68 percent of Republicans and 39 percent of independents — say they worry “a great deal” about the rise of illegal immigration.

The poll shows that the Democrats’ woke base of university-educated progressives are sticking with Biden as his deputies extract a growing number of foreign workers, consumers, and renters from poor countries for use in the U.S. economy. Gallup reported:

[S]ince 2006, Democrats have become increasingly less concerned about illegal immigration, with the percentage saying they are “not at all concerned” overtaking the percentage concerned “a great deal” in 2019 and surging to a new high of 44% this year. By contrast, just 18% now say they are concerned a great deal, down from as much as 42% being this concerned in 2006 and 28% in 2018.

Gallup

Gallup

Biden’s massive inflow includes legal immigrants, long-term visa workers, economic migrants who are being allowed to take jobs while they file for asylum, plus illegal migrants who sneak past border guards.

The inflow is largely being ignored by the establishment TV news shows, even though it delivered roughly two migrants for every three U.S. births in 2021, according to federal data.  The massive but largely hidden inflow floods the labor and housing markets, so cutting Americans’ wages and raising their rents. In turn, the wage cuts and spiked retail sales helped to spike Wall Street stocks.

The immigration inflow includes a growing number of white-collar workers for the jobs and homes sought by the Democrat-voting block of U.S. college graduates.

Overall, the poll shows that the two parties’ voters are splitting into pro- and anti-migration camps.

Gallup posted a graph showing the “net worry” for each of the two parties. The score is the percentage of each party who are worried about illegal migration, minus the “not at all worried” share.

The “net worry” in the GOP is 68 percent and is minus 26 points in the Democrats, creating an 89-point gap between the two parties. The “net worry” score among independents is almost exactly halfway between the two parties.

Gallup

Gallup

The Gallup poll, however, is only a “feelings” poll. The respondents were not told anything about the scale of current migration nor its impact on Americans’ jobs and wealth.

In contrast, Rasmussen reports regularly asks people about the pocketbook issues related to immigration. For example, every two weeks, Rasmussen asks:

When businesses say they are having trouble finding Americans to take jobs in construction, manufacturing, hospitality and other service work, what is generally best for the country? Is it better for businesses to raise the pay and try harder to recruit non-working Americans even if it causes prices to rise, or is it better for the government to bring in new foreign workers to help keep business costs and prices down?

In a poll taken on March 27-31, 64 percent of likely voters said it was “Better for businesses to raise the pay and try harder to recruit non-working Americans even if it causes prices to rise.”

Just 21 percent said it was “Better for the government to bring in new foreign workers to help keep business costs and prices down.”

The split among non-partisans was 65 percent to 18 percent, and among “moderates” was 63 percent to 23 percent.

The focus on pocketbook issues pushed Democrats’ response toward the low-immigration side, 58 percent to 29 percent.

Since at least 1990, the D.C. establishment has used a wide variety of excuses and explanations — for example, “Nation of Immigrants” — to justify its economic policy of extracting tens of millions of migrants and visa workers from poor countries to serve as legal or illegal workers, consumers, and renters for various U.S. investors and CEOs.

The self-serving economic strategy of extraction migration has no stopping point. It is brutal to ordinary Americans because it cuts their career opportunities, shrinks their salaries and wagesraises their housing costs, and has shoved at least ten million American men out of the labor force.

John Moore/Getty Images

Immigrant families from Haiti walk from Mexico through a gap in the border wall into the United States on December 10, 2021, in Yuma, Arizona. (John Moore/Getty Images)

Extraction migration also distorts the economy and curbs Americans’ productivity, partly because it allows employers to use stoop labor instead of machines.

Migration also reduces voters’ political clout, undermines employees’ workplace rights, and widens the regional wealth gaps between the Democrats’ coastal states and the Republicans’ Heartland states.

An economy built on extraction migration also alienates young people and radicalizes Americans’ democratic, compromise-promoting civic culture because it allows wealthy elites to ignore despairing Americans at the bottom of society.

The economic strategy also kills many migrants, exploits poor people, splits foreign families, and extracts wealth from the poor home countries.

The extraction migration policy is backed by progressives who wish to transform the United States from a society governed by European-origin civic culture into a progressive-led empire of competing identity groups. “We’re trying to become the first multiracial, multi-ethnic superpower in the world,” Rep. Ro Khanna (D-CA), told the New York Times on March 21. “It will be an extraordinary achievement … we will ultimately triumph,” he insisted.

The welcome for migrants “is also a boost to US economy and will help stabilize the economy of Cameroon through increased remittances,” claimed Douglas Rivlin, a progressive spokesman for America’s Voice, a business-backed pro-migration group.

Not surprisingly, the wealth-shifting extraction migration policy is very unpopular, according to a wide variety of polls.

The polls show deep and broad public opposition to labor migration and the inflow of temporary contract workers into jobs sought by young U.S. graduates.

The opposition is growinganti-establishmentmultiracialcross-sexnon-racistclass-basedbipartisanrationalpersistent, and recognizes the solidarity that Americans owe to one another.


CNN’s Harwood: Biden’s Policies ‘Likely’ to Increase Flow at Border, But ‘There’s Not a Whole Lot the President Can Do’

2:09

On Monday’s broadcast of CNN’s “Early Start,” CNN White House Correspondent John Harwood argued that even though the spending in the American Rescue Plan “fueled some of the inflation that we’re now experiencing” and President Joe Biden “lifting some Trump restrictions or announcing that he’s lifting some Trump restrictions” is “likely to increase the flow” of people coming over the border, “there’s not a whole lot” Biden can do on these issues.

Harwood said, “Now, in the case of inflation, which is the dominant economic problem, he had something to do with that inflation. The economists, if you talk to them, left and right, will agree that the American Rescue Plan was larger than it should have been, than it needed to have been, that it fueled some of the inflation that we’re now experiencing. Countries around the world are experiencing inflation, but it’s higher here. The issue is though, what can President Biden do about it right now? And the answer is not very much. That’s the Federal Reserve’s job to try to tackle that. They’re raising interest rates. But it’s kind of out of Biden’s hand. And so, when we get these monthly economic reports, and people say, look, highest inflation in 40 years and ask the White House about it, they don’t have particularly good answers, and there aren’t particularly good answers for the White House.”

He continued, “On immigration, President Biden hasn’t really implemented much of the immigration agenda that he ran on. But the flow of people from south of the border seeking to get into the United States is something that has existed for decades. It ebbs and flows with how the economy’s going. And now, you’ve got a whole lot of people who want to come in and the question is, how can President Biden deal with that? He’s lifting some Trump restrictions or announcing that he’s lifting some Trump restrictions, and that’s likely to increase the flow. But that’s just a thorny problem that there’s not a whole lot the president can do to manage.”

Follow Ian Hanchett on Twitter @IanHanchett

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