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Within the backyard of Biden, not all is properly for housing and the mortgage market.
It has been a tricky street for the US financial system since Covid and Biden’s Reign of Error. For the primary time since July 2020 beneath President Trump, we have now lastly seen common hourly earnings progress YoY exceed common house worth progress YoY.
In REAL phrases (after substracting out headline inflation), we see that US housing market remains to be stricken by 24 straight months of damaging wage progress with REAL wage progress nonetheless being decrease than REAL house worth progress.
Then we have now Biden’s Marxist mortgage mannequin, making those that who saved and confirmed care in managing their credit score rating given cash to those that didn’t save and are horrible at monetary administration. Similar to taxpayers trusting DC bureaucrats to fastidiously spend their cash.
Biden’s new theme? “Let’s go loopy!”
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