Falling Housing Costs

Timothy Birdnow

Why? Everyone's fleeing these Blue cities, that's why.

Home Prices Fall in 11 of the 50 Most Populous US Metros: Report

There are other reasons; the Trump Administration is kicking out illegal aliens who were sucking up much of the housing, which ultimately drove prices up across the board. Now instead of buying many are going to rent because no doubt rents are decreasing along with home prices. Frankly, we have been in a housing bubble for a long time because of all the aliens coming in and because of easy credit - Fannie and Freddie have been doing the exact same thing they did which created the bubble leading to the '08 crash in housing. Trump has been systematically reducing the amount of money being spent to finance housing for unqualified would-be homebuyers and renters. For example, he defunded the Community Development Financial Institutions Fund which funneled money to unqualified people. It's website says:

See here for a series of links on the whole business with the CDFI Fund.

At any rate Trump is rolling back the reckless spending that the Democrats have used in the name of "afrordable housing"which makes housing LESS affordableby artificially increasing demand and undercutting market principles.

Ultimately the liberal policies championed by the Democrats decimate whole communities and now those chickens are coming home to roost, now that the unlimited funding coming from Washington is drying up.

Declining home prices is actually a good thing at this point. While painful it's a necessary correction to an artificially inflated market.

Posted by: Timothy Birdnow at 09:29 AM | Comments (11) | Add Comment
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