Thanks to the continuous horror show Bidenomics, the now exorbitant cost of buying a house has reached a new high.
Studies from Redfin demonstrate that the median monthly housing payment increased by 11 % from the same time last year as a result of the combination of high mortgage rates and rising home prices.
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There are a number of factors that are responsible for the value problems. A lack of properties in the nation was fueled by years of underbuilding, a problem that was afterwards made worse by the country’s rapid rise in mortgage rates and pricey building materials.
And do n’t forget about Joe Biden, who is opening up the southern border to millions and millions of illegal immigrants who are directly in direct competition with citizens and legal immigrants for housing.
Freddie Mac, a mortgage client, reported on Thursday that the ordinary charge on a 30-year loan For the first time this year, this week crossed the 7 % threshold, ” Fox News adds. While that is over from its maximum of 7 79 % in the fall, it remains sharply higher than the pandemic-era lows of just 3 %. ”
BIDEN
To give you an idea of how this works, let’s say you get out a 30-year loan immediately for$ 300,000 at 7. 1 cent …
Your monthly mortgage payment will be$ 2,100, and at the end of those 30 years, you will have paid back the$ 300,000 PLUS$ 426,000 in interest. Yes, thanks to Joe Biden, that$ 300,000 loan now costs you$ 726,000.
TRUMP
The 30-year loan rate was the average of 2 when past president Donald Trump left in January 2021. 65 percent, so using the Trump mortgage rate, let’s do the same math on the same$ 300,000…
Your monthly mortgage payment will be$ 1,208, and at the end of those 30 years, you will have paid back the$ 300,000 PLUS$ 135,000 in interest. So, under Trump, that same$ 300,000 mortgage costs just$ 435,0000.
NO MORE MEAN Comments
Thanks to Joe Biden, you are paying close to$ 900 more monthly on your mortgage AND, most importantly, paying nearly$ 290,000 more in interest over those 30 years.
Imagine how your monthly income of$ 900 could raise your standard of living.
Imagine how the$ 299,000 Bidenomics you are currently paying for interest payments may help your retirement savings or pay for college expenses.
Joe Biden is the only one to blame for these outrageous interest rates and the fact that buying a house now is more expensive than ever in history.
JOE BIDEN CHOSE TO spend billions of superfluous federal dollars, which cheapened the dollar, created prices, and more than doubled attention costs.
JOE BIDEN CHOSE TO eliminate home electricity generation, which increased the cost of the energy needed to produce, travel, and keep nearly every good and service, which translates to higher rates, which translates to prices and higher interest rates.
JOE BIDEN WANTED to expand the borders and encircle the nation with millions and millions of unlawful Democrats fighting for products, services, energy, and housing. This rising demand causes inflation and exploding interest rates.
President Joe Biden ( Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images )
In addition, the report points out that there is n’t much churn in the housing market because potential buyers who “locked in a record-low mortgage rate of 3 % or less… have been reluctant to sell, further limiting supply and leaving eager would-be buyers with few options. ” ”
The fewer houses up for sale, the higher the need for houses, which means higher prices.
The only positive thing to note is that these high-interest costs are beneficial for those of us who make money market investments and CD investments at a certain time. We’re suddenly getting a good return of five-plus percentage.
The smartest thing that potential buyers of homes can do in this circumstance is to do the next…
- Prevent voting for Democrats, idiots.
- Walk to a dark position.
- If possible, walk to a smaller area where you can buy a house and property profitably.
- Purchase a house that requires a lot of maintenance; these are even less expensive.
- Would the repairs yourself.
- Pay your mortgage off as soon as possible. Make the most of every penny spent to escape poverty. In the longterm, this will save you hundreds of thousands of dollars in interest repayments.
How do I know this functions? Because of the record-setting loan costs of over 7 % that my wife and I experienced in February 1997. Neither of us made six-figures, but we still paid off our house in seven times. What we did n’t would was kick our money away on holiday, restaurants, new vehicles, or any other drivel.
Loan is slavery.
Never owning your own home is servitude.
Quit voting for Liberals.
John Nolte’s first and last book, Borrowed Time , is winning five-star shouts from regular users. You can read an excerpt around and an in-depth review around. Even available in book on Kindle and Audiobook.
