The Jimmy Dore Show – The creator of dogecoin recently tweeted out alarmist warnings about a prospective burst of the housing bubble that has driven housing prices higher when compared to the median national income than the United States has witnessed in more than 70 years. Elon Musk even responded to the news with a tweet consisting of two exclamation points.
The disparity is forcing people into renting rather than owning their houses/condos; we’ll own nothing, and like it is absolutely partly to blame. The Fed has literally been lending trillions to BlackRock to buy up residential property. That’s a major contributor to this lopsided ratio of income to median home price. I couldn’t tell what it means going forward, but there are definitely differences between this high in the disparity ratio versus before.
I bet the number of people who defaulted on their house loans jumped exponentially directly because of the lockdowns and mandates. The degree to which the well-being and best interests of the citizenry has been betrayed and abandoned is verifiably at an all time high too and they just continue to throw more gas on a funeral pyre consisting of the publics hopes, goals, dreams, and freedoms.