Thanks to Bidenomics, the Average cost of purchasing a Home now $14,000 MORE PER YEAR under Joe Biden vs. TrumpPosted By Brian McFarland |
Funny, my home value was starting to peak during the Trump administration. Maybe that was Hunter's laptop's fault.Originally Posted by James Lacey
The housing market crisis is far more complicated than, "jOE BiDEn iS ThE RooT oF aLL EvIl!" It's pretty funny that you lecture anyone on being an economic illiterate when you misunderstand the problem as only a partisan issue.
You completely ignored several factors including institutional investment in single-family homes. In Texas, over the last few years, up to 1/3 of all home sales were to institutional buyers. In my county, it was 1 in every 2 houses sold. They then turn the homes into a rental property and completely remove them from the market driving supply lower. It is a huge factor in unaffordable housing in Texas and nationwide.
Your 2nd point is spot on. Institutional buyers are a huge driver in home prices here in Southern California where I live and also in coastal Oregon where, coincidentally, I've had rental property for about 20 years. The effect of institutional buyers on home prices here in SoCal has been taken to an extreme. Right now, I would not be able to afford my own house if I tried to buy it.