They snuck it in on us, in the past couple of years, while the National Housing Market was booming from Covid financial stimulus. Cities like Austin, Texas, Boise, Idaho, Phoenix, Arizona, and many, many cities across the nation saw record home value increases. Bidding wars made it hard for buyers to compete in securing a pending sale. Employment was also changed forever with various Covid mandates, in many places. And, of course, supply chains were disrupted, but none as visibly as housing.
The Federal Reserve, the United States monetary policy behemoth, chaired by Jerome Powell, is now standing on the neck of the American economy, after over-compensating the low rate direction. Artificially-produced interest rates, making everything more expensive, inversely, hoping to save us all from the high cost of inflation.
Affordable housing advocates have always been present and perform a necessary role in protecting the unprotected. But this time is different. This goes deeper… Negative housing journalism has questioned “The American Dream” itself. Jerusalem Demsas example, in The Atlantic. *(Need three negative home value articles to cite and discuss.)•
Paragraph about builders. New construction.
Some, especially younger, people feel left out of the American Housing Dream. I get it. Housing is expensive. All-Time-Highs. Large efforts are being made to help on many fronts. This too will pass…and hopefully soon.
