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The worst thing is this is entirely the fault of domestic policies. They won’t allow drilling permits and they brought in four million (!) people since Biden got into office. That’s bigger than a lot of states! That’s definitely going to effect rents. And less oil and gas effects everything else.
This is what needed to be done all along. When I try to explain to liberals on reddit that in fact the economy does matter and shutting down the planet for a virus nursing home residents die from while crippling the supply chain in the process has largely caused this inflation, of course I get downvoted to oblivion, but it's true.
Lumber costs are through the roof and new constructions have been down, meanwhile demand is still there and housing is very supply/demand inelastic when it comes to prices, meaning small changes in demand can lead to huge changes in prices.
Price controls won't solve this problem. Rental moratoriums won't solve this problem. Handouts won't solve this problem. More supply of houses and rental units is what is needed, and there are still countries treating covid like it's the black plague, and that supply chain disruption continues to affect prices.
Nobody wants to pay $275,000-$325,000 for a 1024 square foot 2 bedroom starter home in flyover country, but that's what homebuilders demand be charged or they cancel projects.... so projects are being cancelled. These starter homes were $150,000 to $165,000 pre-covid, and that's with 3% interest rates.
Lockdown lunacy affects the economy and surprise, the economy does matter! Enjoy the tent cities!
It’s going to be a busy week - new disaster reports everyday and the we wait and see out the Supply Line potential strikes go. Truckers blocking the Oakland Harbor. 99+% of all Railways Unions voting for a strike and the West Coast Longshoreman Union working with no Contract.
Shippers are Scrambling to avoid the fallout — the public lives in a Fog of Abortion, Armageddon from Global Warming and fear of Monkey Pox and OrangeManBAD.
Shippers are Scrambling to avoid the fallout — the public lives in a Fog of Abortion, Armageddon from Global Warming and fear of Monkey Pox and OrangeManBAD.
I wonder if their soon-to-be growling stomachs and drained accounts will clear that fog away? I'd doubt it. They will simply warble "but Trump!" even louder.
The US typically admits 1 million immigrants legally each year. There were just under 2 million encounters with illegals last year, and as many this year already (with a quarter of the year to go). Some studies show we only catch 20% to 40% of illegal crossings historically. The Biden administration simply releases enormous numbers of the apprehended into the US interior, and often in the dead of night to avoid press. Of those released on the 'honor system' to show up to a court data, the overwhelming majority do not and their whereabouts are simply declared unknown. If anything, the 4 million figure is almost certainly an undercount.
These are very dark times for the bottom half of our fellow Americans.
Why are the Libs spending $40,000,000,000 on Ukraine, when Americans are losing their homes & going hungry? Where's the compassion?
The Uber Leftists only care about themselves, & they are out of touch. They are telling Americans to buy electric cars, when they can't even afford rent.
Sorry that’s those greedy corps and greedy people. BS on that.
As many said -- the handouts starting Apri of 2020 may have artificially helped people to hang on....foreclosures and evictions were on hold for two years and now we are seeing the impact.
Or to go on spending sprees and stop paying rent. We have at least one renter here that had 2 units and one guy, with zero disruption of income just stopped paying. Because he could.
I'd need to see some real data on the underlying issues, no doubt there are people that fell on hard times or had tragedy befall them. But at the same time, a LOT of people took advantage of the system.
P.S. Many lower income people after unemployment and boosted payments made significantly more than they did pre-Covid. Wondering if this is illegals that didn't get that stuff.
Last edited by Mathguy; 07-23-2022 at 06:42 PM..
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We have at least one renter here that had 2 units and one guy, with zero disruption of income just stopped paying. Because he could.
