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From 2010 to 2020 is not the latest. The latest is 2020 to 2021, you know, just this past year and the biggest liberal states like California, New York, Illinois, New Jersey, Massachusetts all saw population declines while the conservative states like Texas, Florida, Utah, Idaho, Montana, South Carolina saw the biggest population increases.
Biggest reason people are leaving is the high cost of living. And homes and rent are expensive because demand outpaces supply. The day that San Francisco and Wichita have similar housing prices you will have a point. And I am not a liberal.
Politics might be a factor for some, especially with the pandemic restrictions. There has always been a lot of people leaving California. My parents retired and sold their California home in the early 90's and moved to Northern Idaho. Many of their neighbors were from California. They were apolitical. Simply you could buy a bigger nicer home for half the price the California home sold for and bank the rest.
The high cost plus declining quality of life of liberal cities and states are what is driving the exodus. They have been expensive for awhile now so that couldn’t be the only reason for the recent population declines. You also cannot compare SF and Wichita. They are too dissimilar in terms of economic activity, population and even climate.
It really isn't going to matter. At the rate interest rates are climbing nobody will be able to afford a home in 6 months anyway. Add to that, Brandon's tanking of the economy and stock market will ensure that no one will be able to afford existing payments and will lose homes. It's 1979 all over again.
Exactly how is Biden responsible for today's inflation?
IMO, it's a culmanation of many things, the biggest two:
40+ years of bad fiscal policy, printing money, and pressure to lower rates (low rates cause inflation)
The pandemic slowed the economy, manufactures cut back, people saved a ton of money. As the economy opened back up (under Biden, I'll give you that), there was high demand due to the pent up savings and low inventory due to reduced production. The supply chain backed up, and demand greatly exceeded supply. Hence rising prices.
The point is that Biden had no control over any of those things. I've said before, and I'll say again, he's dong things that WILL cause inflation in FUTURE years, but what we're seeing now can't be pinned on him.
Disgusting! Does the American government own and rent in China? I’m guessing the answer is no?
No, they don’t.
But I don’t see this changing anytime soon, given Joe Biden, his corruption, and his ties to China. Maybe Hunter is getting a kickback to every home sold to a Chinese corporation!
Exactly how is Biden responsible for today's inflation?
IMO, it's a culmanation of many things, the biggest two:
40+ years of bad fiscal policy, printing money, and pressure to lower rates (low rates cause inflation)
The pandemic slowed the economy, manufactures cut back, people saved a ton of money. As the economy opened back up (under Biden, I'll give you that), there was high demand due to the pent up savings and low inventory due to reduced production. The supply chain backed up, and demand greatly exceeded supply. Hence rising prices.
The point is that Biden had no control over any of those things. I've said before, and I'll say again, he's dong things that WILL cause inflation in FUTURE years, but what we're seeing now can't be pinned on him.
This is just so absurd. How can 40+ years of fiscal policy not affect the Trump years and all of a sudden in Biden’s first year, inflation takes off like a rocket?
It is all Biden and his Democrat’s doing. Everything from all the government money printing and giveaways to the killing of oil production in this country to the mandates that fired a lot of workers to the excessive California environmental regulations that created the port bottlenecks to even raising the minimum wages in the liberal states have all contributed to the sudden inflation as soon as Biden and the Democrats took over last year. These are all Democrat actions in just this past year.
Leftists never take accountability and are always looking to blame, make excuses or deny whenever things go bad, and they almost always go bad when they take full control. Look at all the dysfunction in the liberal cities and states.
Millions of houses didn’t just disappear and the number of family’s didn’t suddenly skyrocket.
Nowhere does the OP talk about corporate America buying homes to turn them into rentals or people who own more than one home.
There are more than enough homes and structures in this country. The real shortage is in the lack of a backbone to do something about it.
Do something like what?
Set arbitrary Caps on houses? How about a limit of one property per family? Maybe confiscation of property for equitable results? Maybe a square foot per person allowance? Ban investments?
Tax Policy is all I can see, but CongressCritters will bow down to Blackstone & the Chinese of course.
I live in one of those homes they are trying to buy - I get maybe 6 All Cash offers a week via phone & Mail.
I’m not interested, but my home has tripled in value since the 2009 Crash and investors are expecting another recession. Can’t keep up with inflation with cash in the bank, people have to look for investments.
Interest rates will rise a bit, but not too much because of our National Debt. We are in a Catch-22 situation.
Quote:
Originally Posted by Toyman at Jewel Lake
It really isn't going to matter. At the rate interest rates are climbing nobody will be able to afford a home in 6 months anyway. Add to that, Brandon's tanking of the economy and stock market will ensure that no one will be able to afford existing payments and will lose homes. It's 1979 all over again.
We didn’t have this much debt in 1979. Interest rates need to come up. Bought my first home at 7.5% with 20% down & high qualification, which is why we were able to get 7.5% instead of the going rate of 9%.
Sold it 5 years later and bought at 10.5%, when the going rate was 16-17% - again with 20% down & high qualifying criteria.
When the next Crash comes is the time to buy - save your money and look early and keep looking.
Interest rates will be up some, but can go down. My son bought a home during the last Cradh, he kept the home he was in, his wife kept the home she was in and now they rent them out. It’s paying for their kids college.
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