1 Jul 2023 10:41 am
It does have a lot to do with Trump spending an all time record of an additional six trillion dollars, virtually all in one year, to avoid a major recession.sootedupCyndi » 01 Jul 2023, 10:18 am » wrote: ↑ This has nothing to do with TRUMP ya nitwit. gees-us.
All that six trillion was borrowed money, added to the national debt.
That record spending caused two things:
A brief spike in inflation (too many dollars chasing too few goods)
A massive increase in demand for homes, whether rentals or purchased, which has raised house prices.
Gasoline, food, clothing and other essentials are coming down in price (eggs are a dollar dozen on sale, gasoline a $1.50 less than last year, and falling, etc etc)
But the rise in home values seems more or less permanent.
Now, to defend Trump a bit, if he’d not tossed six trillion extra at the Covid crisis you might be facing a 2008-9 recession where home prices fell and over one million homes were sold at foreclosure. It took years for home prices to recover.
And another good thing about the massive Covid spending is that if you bought your home before Covid you are very likely paying about half to own your own home as you’d pay to rent it.
Even now at high home prices, a $200,000 home costs about a thousand a month to buy, and the rent would be $1,500.