$fnma $fmcc This fundamental shift has occurred over a 35 year period and, while it can be attributed to a range of socio-economic factors which will NOT be stopped and reversed "on a dime" it is beyond foolish to not take immediate steps to attack this issue. Home ownership anchors families and begins the wealth building process which, when coupled with a healthy housing market that provides for mobility supports a nation of mobile (when necessary), stable family-oriented workers that have ALWAYS been the backbone of our great American society and workforce.
Although Fannie Mae and Freddie Mac are NOT the vehicle responsible for the overall housing market and the related cultural, socio-economic factors which are contributing to this ugly trend, their conservatorship is symptomatic of the corruption and rot in our political, financial, and legal systems which are the major contributing factors derailing the societal norms which have made America the last stand in economic, political, and cultural freedom. Be forewarned, allowing this corrupt conservatorship and theft of private property to continue only exacerbates the issues with housing and prevents a significant segment of the economy from contributing to improving the domestic economy. Normalizing corruption and theft of private property destroys much more than can be addressed in this post, all of which contributes to the socio-economic factors that are making for this postponed housing and family building in America. You can thank the tech industry, Wall Street, and the corruption of jurisprudence and governance in this country for much of it.
Again, I will reiterate to our elected officials - the Spring buying season is slipping away; Summer will soon be here; housing is 15% to 20% of the U.S. economy - you are losing opportunities and labor in construction, flooring, roofing, siding, furniture, appliances and all the industries that support production of these goods!
The continued non-action is wasting time and blundering away sorely needed domestic economic opportunities that WILL get the other side elected - potentially in the midterms, possibly in numbers large enough to completely derail the last two years of this administration. If that does occur it WILL BE an unforced error that likely will lead to a 2028 election of a democrat president that WILL trigger the final delivery of America into the hands of the leftists-globalists-communists and their agenda; then God help us all. Have we learned nothing from O'bama and Biden?!!
This is a MAIN STREET AMERICAN ISSUE and a property rights issue: stop listening to the worst of Wall Street; greedy investment bankers with their own agenda; law firms whispering budget illegalities nonsense in your ears - they are only shilling for their corporate home buyer, real estate, and REIT clients; corrupt (OTC) exchanges, market makers, and trading firms which thrive on volatility, volume, and share theft for their favored clients; and lastly, the home builders that are FAILING to do their part! May retribution not limp in catching up with these vain and venal rats.
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The median age of first-time homebuyers has jumped from 28 in 1991 to 40 today, per RealtorCom.