President Biden loves to spend your money, usually under the guise of making things more ‘affordable’ (how’d that work out for health care, college tuition, or — well — anything the government gets involved in?).
So now — amid record inflation, soaring grocery and gas prices, and shrinking family budgets — Biden has decided you’re not paying enough for your house or rent. So he’s going to take your tax dollars, give $10,000 to your neighbor, and call it ‘mortgage relief’.
The prices of home will increase accordingly.
President Biden is calling on Congress to give middle-class first-time homebuyers a $10,000 tax credit to help lower their monthly mortgage costs.
— The White House (@WhiteHouse) May 30, 2024
According to Business Insider, the average 30-year fixed mortgage payment is $2,883 and the median mortgage payment is $1,775 (as of 2022). So $10,000 to offset what is an annual mortgage cost of $21,300 to $34,569 is a drop in the bucket. Especially when you remember the price of homes would go up by at least $10,000.
Buying votes. When a home costs $500k, $10k isn’t going to matter.
— Frustrated Conservative 🇺🇸 ✝️ (@JamesReill97939) May 30, 2024
Much like releasing one million barrels of oil is a drop in the bucket.
President Biden is calling on starter homes to cost $10,000 more
— Magills (@magills_) May 30, 2024
And for rents to increase.
Thereby pricing lower-income Americans out of the housing market.
8 HOURS AGO:
“The Biden administration has transformed homeownership into a luxury outside the reach of the middle class.” @KevinRobertsTX and @RealEJAntoni
This post CONFIRMS that you know it’s just as bad as Dr. Roberts and Dr. Antoni say it is.
— Heritage Foundation (@Heritage) May 30, 2024
Recommended
Homeownership is now a luxury.
Wowza.
Why is this necessary?
I was told the economy is booming.
— Meara (@MillennialOther) May 30, 2024
They also told us wages are up, outpacing inflation, and Americans are wealthier than ever.
Subsidizing homebuying. Should work out as well for affordability as subsidizing higher education did.
— AdamInHTownTX (Not a Neurologist) (@AdamInHTownTX) May 30, 2024
And subsidizing health insurace.
1). Thought the economy was the greatest ever.
2). This is an excellent idea to accelerate inflation growth further.
3). Population keeps growing. Partially due to all the illegals you guys let in.
4). Have to build more houses. Simple as that.
— Wisconsin’s Conservative Sponge (@wiz_political) May 30, 2024
They don’t care about the consequences of their policies.
Nothing like driving up the cost of housing some more, and adding to the inflation rate. You people are smart as a tack. Ammirite?
— Charles X Proxy™ (@Charlemagne0814) May 30, 2024
This is an insult to tacks.
Can I get this if I already own a house
— Kaya (@sisterinferior) May 30, 2024
Hahahahaha. That’s adorable.
Like the people who either paid off their student loans or didn’t take out student loans, you don’t get to reap the benefits of this. You just get to pay for other people’s mortgages.
That’s equity.
Or something.
I don’t know what passes for “economics” in the Biden @WhiteHouse, but this is an idiotic policy that will inflate already-inflated home prices. pic.twitter.com/GVuXQQF30F
— Soquel by the Creek (@SoquelCreek) May 30, 2024
They. Don’t. Care.
https://t.co/Cab6TIecua pic.twitter.com/yW1P9NFQ1m
— Patrick Hedger (@pat_hedger) May 30, 2024
Yep.
Their solution to an excess demand for houses is to create more demand for houses. https://t.co/40HUqNu1lq pic.twitter.com/jW18AU0ygg
— Josh Hendrickson (@RebelEconProf) May 30, 2024
Brilliant.
BREAKING: First-time homes to cost $10,000 more. https://t.co/LziXxtGq4u
— Stephen Green (@VodkaPundit) May 30, 2024
Wheee!
When the arsonist pretends to be a firefighter… https://t.co/SitZFDgq2k
— Thomas Massie (@RepThomasMassie) May 30, 2024
Apt metaphor.
Someone should model in advance exactly what the consequences will be and publish their predictions. Then instead of just saying this is a stupid idea, we can quote specific numbers. https://t.co/Dp8m3lGmEW
— Paul Graham (@paulg) May 30, 2024
We don’t disagree, but it won’t matter to the Left.
Facts, numbers, data are all anathema to them.
