Well written and right on the mark as usual. In the era of record levels or credit card debt, cost to feed a family, skyrocketing home insurance rates (I'm up from $1200/year in 2022 to $1800/year in 2024), and the inability of politicians to stop spending resulting in further inflation, I'm afraid the American dream of home ownership has disappeared for many. Yes the home builders are erecting new Levittowns in numerous areas across the country. The difference is that unlike the 1950s when Dad could afford the house payment and maintain one newer car and one older car, while Mom watched the kids, Mom and Dad are both slaving away for the same lifestyle. Look for a small increase in interest rates at the next meeting of the Fed which will be entirely political. Then the next lowering of rates will only occur when the economy slows enough to put some of those Moms and Dads out of work.
Well written and right on the mark as usual. In the era of record levels or credit card debt, cost to feed a family, skyrocketing home insurance rates (I'm up from $1200/year in 2022 to $1800/year in 2024), and the inability of politicians to stop spending resulting in further inflation, I'm afraid the American dream of home ownership has disappeared for many. Yes the home builders are erecting new Levittowns in numerous areas across the country. The difference is that unlike the 1950s when Dad could afford the house payment and maintain one newer car and one older car, while Mom watched the kids, Mom and Dad are both slaving away for the same lifestyle. Look for a small increase in interest rates at the next meeting of the Fed which will be entirely political. Then the next lowering of rates will only occur when the economy slows enough to put some of those Moms and Dads out of work.
Have a great week too.