EVERYTHING IS GOING SWIMMINGLY: Voters are ‘feeling horrible’ about Biden economy, confusing some political experts.
Voters are “feeling horrible” about the economy under President Biden as the 2024 presidential election nears, confusing some experts, according to a new report.
“Things are getting better and people think things are going to get worse — and that’s the most dangerous piece of this,” Democratic pollster Celinda Lake told the Associated Press.
Lake also said that voters want prices to fall, not just inflation. “Honestly, I’m kind of mystified by it,” she said.
Maybe she could try reading the Wall Street Journal: The Math for Buying a Home No Longer Works. These Charts Show You Why.
It is now less affordable than any time in recent history to buy a home, and the math isn’t changing any time soon. Home prices aren’t expected to go back to prepandemic levels. The Federal Reserve, which started raising rates aggressively early last year to curb inflation, hasn’t shown much interest in cutting them. Mortgage rates slipped to about 7% last week, the lowest in several months, but they are still more than double what they were two years ago.
Typically, high mortgage rates slow down home sales, and home prices should soften as a result. Not this time. Home sales are certainly falling, but prices are still rising—there just aren’t enough homes to go around. The national median existing-home price rose to about $392,000 in October, the highest ever for that month in data that goes back to 1999.
Or the friendlier Washington Post: New cars, once part of the American Dream, now out of reach for many.
Under Bidenomics, the median income no longer buys the median home or the median new car. The middle class as we’ve known it for 75 years is fading fast — while the White House assures things are better than ever.