by Bill Cavanaugh, Corvallis
Jon Tester and Monica Tranel tell you that they are going to “fix the housing crisis” and make housing more affordable. THIS IS A HUGE LIE.
The housing market is a free market, and they have no control over the price of housing. I read Tranel’s plan to fix it and like every other Democrat plan it is just a word salad of mumbo jumbo.
First off, assuming they were able to fix pricing on housing (which they can’t), there goes your equity in your home and if you bought in the last 4-5 years… oh, well, you take it in the shorts so someone else can buy a house.
We live in a free-market society and have been the envy of the world for over 200 years, yet these two economic neophytes are going to reinvent the wheel? You might as well have your electrician perform your open heart surgery.
I’m sympathetic to the price of housing, but government intervention is not the answer.
Unlike every Democrat, whose talking points include the phrase “root cause” which they never somehow get to the bottom of, I’ve got a very simple solution. THE BLOATED GOVERNMENT NEEDS TO STOP WASTING MONEY!
Rampant government spending caused this inflation (raising housing prices) and rise in the bond markets which directly influenced mortgage rates.
Say you got a mortgage for $300,000 today at 6.47%, your payment (net of tax and insurance) would be $1,891. By contrast at this point, under Trump your mortgage rate would have been 2.86% so a payment on $300K would have been $648 less at $1,243! Even worse, for that payment of $1,891 under Biden, you could have borrowed $456,662 under Trump. More home for the same payment. So you could have gotten a $550,000 home under Trump for the same payment you can buy only a $360,000 home for under Biden.
Government intervention is NEVER the answer. This is what happens when you get lawyers who think they can run an economy vs a businessman.
WMA says
Ok, what will a businessman like Trump do to make housing more affordable? I can’t wait to hear.