United States | News & Politics

7203 readers

250 users here now

founded 4 years ago

MODERATORS

135

Americans must earn roughly $106,500 to comfortably afford a typical home, a significant increase from the $59,000 annual household income that put homeownership within reach for families in 2020. (www.cbsnews.com)

submitted 8 months ago by [email protected] to c/[email protected]

29 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 26 points 8 months ago* (last edited 8 months ago) (1 children)

Most of us know that this is the impact of lowering interest rates to fucking zero for so long would have; there would come a time for market correction for one reason or another (we got a goddamn pandemic, yay) and now that it had to be done we got a nice hyperinflation bubble.

We screamed about this for four fucking years of Trump, these moves are shortsighted, these moves will destroy us later down the line; same with the expiring tax cuts, same with the immigration policies and “Muslim bans”, same with the moving the embassy to Jerusalem.

But no, we’re just “butthurt libs who can’t see how GREAT we are”

MAGA just HAD to huff their own farts so goddamn hard and now look they’ve fucking blown it. Biden sucks for a lot of reasons but let’s not go blaming him for the blowback from four years of economic and foreign policy naïveté.

Your memory might be too short but I was fuckin there. Told you so.

[–] [email protected] 3 points 8 months ago

Do you remember trump pressuring the fed (already not usually done) to keep interest rates close to 0 BEFORE covid hit?

And then we hit covid, when it actually would've been nice to be able to lower interest to spark the economy and wouldn't you know, it was already too low.