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Biden is ready to give future homeowners 10,000 buckaroos

Anonymous Sat 09 Mar 2024 02:59:26 No.1275872 View View Reply Original Report

Quoted By: >>1275873 >>1275876 >>1275886 >>1275951 >>1275963 >>1276173

Americans May Get $9,600 Tax Credit To Buy a Home
Published Mar 08, 2024 at 4:03 AM EST
Updated Mar 08, 2024 at 8:11 AM EST

https://www.newsweek.com/joe-biden-tax-credit-mortages-housing-crisis-state-union-1877191

President Joe Biden has proposed an annual tax credit that would give Americans $400 a month for the next two years to put towards their mortgages.

Addressing the affordability crisis in the housing market in his State of the Union address on Thursday, Biden said: "I know the cost of housing is so important to you. Inflation keeps coming down, and mortgage rates will come down as well.

Anonymous

Anonymous Sat 09 Mar 2024 03:00:38 No.1275873 Report

Quoted By:

>>1275872
I'M OUTRAGED!!1 HE OUGHT TO APOLOGIZE!!11

Anonymous

Anonymous Sat 09 Mar 2024 03:02:22 No.1275875 Report

Quoted By:

"But I'm not waiting. I want to provide an annual tax credit that will give Americans $400 a month for the next two years as mortgage rates come down, to put towards their mortgage when they buy their first home, or trade up for a little more space."

Home prices skyrocketed during the pandemic, driven by relatively low mortgage rates, high demand and low inventory. At their peak, the median listed price for a home in the U.S. reached $465,000 in June 2022, according to data from the Federal Reserve Bank of St. Louis (FRED).

While the housing market experienced a price correction between late summer 2022 and spring 2023, prices remain historically high, propped up by lingering low supply. In June 2023, the median listed price for a home in the U.S. was $448,000. As of January 2024, this was $409,500, according to data from FRED.

While home prices have stayed high for the past three years, a rise in mortgage rates driven by the Federal Reserve's aggressive hike rate campaign last year has led to many aspiring homebuyers being completely squeezed out of the market. In December last year, the reserve said that it would have stopped rising rates, but mortgages are yet to significantly come down.

High mortgage rates, together with the historic shortage of homes in the U.S.—due to the fact that the country hasn't built enough homes to meet demand since the housing crash of 2008—have contributed to the current affordability crisis.

In late 2023, J.P. Morgan said that, based on then-current trends, housing affordability could be restored in 3.5 years. Newsweek contacted J.P. Morgan for comment by email on Friday morning.

Biden is now calling on Congress to provide a one-year tax credit of up to $10,000 to middle-class families who sell their starter home—a home below the median home price of the area where it is located—to another owner or occupant. The White House said that this proposal could help nearly 3 million American families.

Anonymous

Anonymous Sat 09 Mar 2024 03:03:04 No.1275876 Report

Quoted By: >>1275915 >>1275927

>>1275872
Awesome, more deficit spending means more inflation. Good job democrats!

Anonymous

Anonymous Sat 09 Mar 2024 03:03:45 No.1275877 Report

Quoted By:

On Friday, Biden's announcement on the tax credit was met with a standing ovation and roaring applause by Democratic lawmakers, while about half of the House stayed seated.

The president also mentioned other measures to address the housing affordability crisis in the U.S. These included down-payment assistance for first-generation homeowners, tax credit to build more housing, and lowering costs by building and preserving millions of homes.

"My administration is also eliminating title insurance on federally backed mortgages," Biden told lawmakers on Friday.

"When you refinance your home, you can save $1,000 or more as a consequence. We're cracking down on big landlords who break antitrust laws by price-fixing and driving up rents. We've cut red tape, so builders can get federal financing," the president said among the cheering of some lawmakers.

Update, 3/8/24, 8 a.m. ET: The headline on this article was updated.

Anonymous

Anonymous Sat 09 Mar 2024 03:54:56 No.1275886 Report

Quoted By: >>1275905 >>1275926

>>1275872
this doesn't benefit me. I purchased my home in 2019

Anonymous

Anonymous Sat 09 Mar 2024 04:51:25 No.1275905 Report

Quoted By:

>>1275886
Good job fellow last-generation-to-be-able-to-afford-a-home, bro.

Anonymous

Anonymous Sat 09 Mar 2024 05:44:22 No.1275914 Report

Quoted By:

$1,000,000 -$10,000= $990,000
amortized, etc over 75 yrs?
How much do i pay for rent for that roach infested room in Philly?

Anonymous

Anonymous Sat 09 Mar 2024 05:45:15 No.1275915 Report

Quoted By: >>1275927

>>1275876
Accurate

Anonymous

Anonymous Sat 09 Mar 2024 05:50:31 No.1275916 Report

Quoted By: >>1275918

Underprivileged folk disproportionately affected by systemic racism should be given an equity tax credit of $100,000.

Anonymous

Anonymous Sat 09 Mar 2024 05:56:44 No.1275918 Report

Quoted By: >>1275920

>>1275916
White American poor that's been systematically discriminated against by jews, and institutional legislation in favor of minorities here.
I'll take your money.

Anonymous

Anonymous Sat 09 Mar 2024 06:11:06 No.1275920 Report

Quoted By: >>1275921

>>1275918
Nah that's not systemic racism. Look it up.

Anonymous

Anonymous Sat 09 Mar 2024 06:46:04 No.1275921 Report

Quoted By:

>>1275920
I looked it up and it was a photo of Donald J. Trump

Anonymous

Anonymous Sat 09 Mar 2024 07:32:52 No.1275926 Report

Quoted By: >>1275935

>>1275886
typical pull the ladder up behind yourself boomer R mentality.

>biden announces cure for cancer
>my mom died of cancer in 2019 this doesn't benefit me
this is you.

Anonymous

Anonymous Sat 09 Mar 2024 07:34:51 No.1275927 Report

Quoted By: >>1275952

>>1275876
>>1275915

The government taking in less money = them deficit spending.
wat

Anonymous

Anonymous Sat 09 Mar 2024 07:48:34 No.1275935 Report

Quoted By: >>1275950 >>1275975 >>1276092

>>1275926
why would I vote for and want to pay for something that doesn't benefit me?

Anonymous

Anonymous Sat 09 Mar 2024 12:33:19 No.1275950 Report

Quoted By: >>1276021

>>1275935
Trumpfags vote against their own economic interests.

Anonymous

Anonymous Sat 09 Mar 2024 12:36:53 No.1275951 Report

Quoted By: >>1275952

>>1275872
>dude free money lmao!
leftists are so fucking stupid. The problem is the increased demand because we have too many people. If you actually want affordable housing you need to close the border and have mass deportations. Although that will only stop things from getting worse, it won't make it better. Leftists should have listened when we said that we were full and that importing millions of more people would just make housing even less affordable. It doesn't matter how much free money you give people, you can't get around basic supply and demand.

Anonymous

Anonymous Sat 09 Mar 2024 12:41:23 No.1275952 Report

Quoted By: >>1276079

>>1275927
>t. Zoomer who doesn't understand basic math because his teachers were woke
deficits are caused when you spend more than you earn. Earning less will increase the deficit unless you reduce spending by an equal amount, which is unlikely to happen.
>>1275951
Zoomer women also need to reject feminism and stop living alone. If all the single Zoomer and Millennial women got married and lived with a husband (and if older women stopped getting divorced) it would free up millions of homes. And they could split living costs.

Anonymous

Anonymous Sat 09 Mar 2024 14:57:11 No.1275963 Report

Quoted By:

>>1275872
OP's image is soooo fucking sad.
They/them even added a date at the bottom like it was a real classic comic book.

Anonymous

Anonymous Sat 09 Mar 2024 15:33:33 No.1275975 Report

Quoted By: >>1276092

>>1275935
If any of the shills on this board were capable of critical thought, you could get a reasonable answer to your reasonable question.

Anonymous

Anonymous Sat 09 Mar 2024 15:40:30 No.1275976 Report

Quoted By:

calling it now.. its just for illegals :(

Anonymous

Anonymous Sat 09 Mar 2024 15:41:56 No.1275978 Report

Quoted By: >>1275982

>government subsidizes thing
>cost of thing goes up
>people complain thing is too expensive
>demand government intervene
>government subsidizes thing
>cost of thing goes up
>people complain thing is too expensive
>demand government intervene
>government subsidizes thing
>cost of thing goes up
>people complain thing is too expensive
>demand government intervene
>government subsidizes thing
>cost of thing goes up
>people complain thing is too expensive
>demand government intervene

Anonymous

Anonymous Sat 09 Mar 2024 15:47:43 No.1275982 Report

Quoted By: >>1275983 >>1276022

>>1275978
The thing missing from your anti-government ouroboros is the free market failures which led to the demand for government intervention the first time

Anonymous

Anonymous Sat 09 Mar 2024 15:49:44 No.1275983 Report

Quoted By: >>1275986 >>1276022

>>1275982
>govt subsidization driving up cost
>gov't regulation like AHA causing 2008 crisis
>free market failures

Mmmm, no

Anonymous

Anonymous Sat 09 Mar 2024 15:54:36 No.1275986 Report

Quoted By: >>1275987 >>1276022

>>1275983
The 2008 housing crisis was caused by fraud from rating agencies. The government failure was them not prosecuting any of the fraudsters.

Anonymous

Anonymous Sat 09 Mar 2024 15:55:41 No.1275987 Report

Quoted By: >>1276022

>>1275986
>The 2008 housing crisis was caused by the government failure known as the AHA
FTFY

Anonymous

Anonymous Sat 09 Mar 2024 16:01:31 No.1275989 Report

Quoted By:

Righties for higher taxes? Parties switch yet again.

Anonymous

Anonymous Sat 09 Mar 2024 18:25:20 No.1276021 Report

Quoted By: >>1276107

>>1275950
explain how open borders and generational inflation is in my interests?

Anonymous

Anonymous Sat 09 Mar 2024 18:27:08 No.1276022 Report

Quoted By: >>1276023

>>1275982
>>1275983
>>1275986
>>1275987
2008 was caused by clinton repealing glass stegall and ordering banks to give homes to blacks who had no jobs in white neighborhoods so he could destroy white neighborhoods

Anonymous

Anonymous Sat 09 Mar 2024 18:31:59 No.1276023 Report

Quoted By: >>1276024 >>1276027

>>1276022
>The Gramm–Leach–Bliley Act (GLBA) is an act of the 106th United States Congress (1999–2001)
>senate majority: republican
>house speaker: republican

Anonymous

Anonymous Sat 09 Mar 2024 18:43:26 No.1276024 Report

Quoted By: >>1276025

>>1276023
President who signed it into law: DEMOCRAT
also 75% of house dems and 84% of senate dems voted for the bill.

Anonymous

Anonymous Sat 09 Mar 2024 18:49:44 No.1276025 Report

Quoted By: >>1276026

>>1276024
and even more republicans voted for it. the act is named after 3 republicans

Anonymous

Anonymous Sat 09 Mar 2024 18:54:53 No.1276026 Report

Quoted By: >>1276080

>>1276025
a majority of dems supported it
a dem signed it
clinton told banks to use it in a bad faith way the gop didn't think of, like how biden is using the 1952 holocaust law to bad faith import illegals

Anonymous

Anonymous Sat 09 Mar 2024 18:58:23 No.1276027 Report

Quoted By: >>1276042

>>1276023
What is power of veto? Why didn't your Democrat save you?

Anonymous

Anonymous Sat 09 Mar 2024 20:13:26 No.1276042 Report

Quoted By: >>1276083

>>1276027
clinton is a moderate, he made compromises. the fact that the vast majority of your side wanted what he compromised, but you think there's "blame" is extremly illogical

Anonymous

Anonymous Sat 09 Mar 2024 22:51:30 No.1276079 Report

Quoted By:

>>1275952
and financial benefits to the middle class and below goes directly back into the economy which will increase tax revenue. based Biden

Anonymous

Anonymous Sat 09 Mar 2024 23:02:03 No.1276080 Report

Quoted By: >>1276083

>>1276026
great mental gymnastics to memoryhole the republicans who wrote and sponsored the bill

Anonymous

Anonymous Sat 09 Mar 2024 23:21:58 No.1276083 Report

Quoted By: >>1276087

>>1276042
clinton really wanted it because he wanted to force blacks into white neighborhoods to lower the property values so his jewish wallstreet friends could buy the place up
>>1276080
84% of senate dems and 75% of house dems voted for it

Anonymous

Anonymous Sat 09 Mar 2024 23:36:32 No.1276087 Report

Quoted By:

>>1276083
Oh and Bill Clinton signed it.
Signing it really is the ultimate culpability.
His name is right there.
Level 99 coping isn't going to go away.

Anonymous

Anonymous Sat 09 Mar 2024 23:46:11 No.1276092 Report

Quoted By: >>1276098 >>1276109

>>1275935
because it indirectly does benefit you as it helps the economy grow.

>>1275975
fuck off.

Anonymous

Anonymous Sun 10 Mar 2024 00:00:17 No.1276098 Report

Quoted By: >>1276101 >>1276113

>>1276092
Who gives a shit about economic growth?

Anonymous

Anonymous Sun 10 Mar 2024 00:08:19 No.1276101 Report

Quoted By:

>>1276098
people participating in the economy.

Anonymous

Anonymous Sun 10 Mar 2024 00:23:37 No.1276107 Report

Quoted By: >>1276112 >>1276114

>>1276021
Inflation encourages people to take out loans which grows the economy. Trump said in 16 he was going to build a wall and mexico was going to pay for it, neither happened even though he had the senate and house for 2 years.

The wall thing and open border thing is a wedge issue brought up by the republicans, specifically Trump and Faux news. Notice how the wall thing wasn't an issue until Trump planted the seed. And it's obvious why Trump wanted the wall. It's a big monument to forever be called the Trump wall that he didn't pay for like everything else he's done. It was to feed his ego and legacy. How people can't see through that is amazing.

Anonymous

Anonymous Sun 10 Mar 2024 00:29:41 No.1276109 Report

Quoted By:

>>1276092
>because it indirectly does benefit you
CITATION NEEDED
>as it helps the economy grow.
CITATION NEEDED
also
>as it helps the economy grow.
I really don't give a shit about some stockmarket jews making more money

Anonymous

Anonymous Sun 10 Mar 2024 00:32:09 No.1276112 Report

Quoted By: >>1276125

>>1276107
>Inflation encourages people to take out loans which grows the economy.
we just had generational inflation that reduced real wages to a generational low. only wallstreet jews benefit from inflation
>Trump said in 16 he was going to build a wall and mexico was going to pay for it, neither happened even though he had the senate and house for 2 years.
dems filibustered it the whole time because they demand open borders because their voters voted for it.
>The wall thing and open border thing is a wedge issue brought up by the republicans, specifically Trump and Faux news. Notice how the wall thing wasn't an issue until Trump planted the seed. And it's obvious why Trump wanted the wall. It's a big monument to forever be called the Trump wall that he didn't pay for like everything else he's done. It was to feed his ego and legacy. How people can't see through that is amazing.
they literally build sections of wall and fence when clinton and bush were president. dems want to have more illegals so they can pay slave wages below minimum wage and so they can have illegals vote in elections

Anonymous

Anonymous Sun 10 Mar 2024 00:33:48 No.1276113 Report

Quoted By:

>>1276098
Donald J. Trump

Anonymous

Anonymous Sun 10 Mar 2024 00:34:40 No.1276114 Report

Quoted By: >>1276119 >>1276134

>>1276107
>Inflation encourages people to take out loans which grows the economy.
This is complete nonsense.

Getting back to topic, the biggest problem with this idea is it's a boost to demand for housing without addressing supply at all. The obvious, natural effect is that it will raise prices on homes.

Generally legislation that increases supply of housing is an effective method to lower cost and increase availability. I guess that's too complicated though.

Anonymous

Anonymous Sun 10 Mar 2024 01:14:33 No.1276119 Report

Quoted By:

>>1276114
>This is complete nonsense.
It's literally the primary reason that inflation is healthy.

Anonymous

Anonymous Sun 10 Mar 2024 01:36:07 No.1276125 Report

Quoted By: >>1276134

>>1276112
>reduced real wages to a generational low.
I’ll give you a moment to double check your work before issuing a final grade.

Anonymous

Anonymous Sun 10 Mar 2024 02:00:09 No.1276134 Report

Quoted By: >>1276140 >>1276141

>>1276114
no one wants ghettos in their neighborhood
>>1276125
biden literally had the biggest inflation since carter. people can't afford homes or food

Anonymous

Anonymous Sun 10 Mar 2024 02:04:32 No.1276138 Report

Quoted By:

INB4 "Bidenflaion, which literally started happening the day Biden took office, is a lagging indicator"

Anonymous

Anonymous Sun 10 Mar 2024 02:08:06 No.1276140 Report

Quoted By: >>1276142 >>1276144 >>1276145

>>1276134
surely trumps 20% tariff and the CARES act and him driving the deficit up more than any other president and covid with global inflation had nothing to do with that.

surely corporate greed has nothing to do with food prices. im sure you live on goyslop, but if you shop the parameter of the grocery store youll find that milk is the same price for the last few decades, a dozen eggs are a buck, a head of lettuce is a buck, potatoes are 80cents a lb, a lb of chicken breast is 3.99, and bananas are still like 14 cents.

Anonymous

Anonymous Sun 10 Mar 2024 02:09:48 No.1276141 Report

Quoted By: >>1276145

>>1276134
>moves goalposts
Admitting you’re incorrect? I accept your concession.

Anonymous

Anonymous Sun 10 Mar 2024 02:10:44 No.1276142 Report

Quoted By: >>1276143 >>1276146

>>1276140
Why did corporations decide to be greedy under Biden?

Anonymous

Anonymous Sun 10 Mar 2024 02:12:56 No.1276143 Report

Quoted By: >>1276148

>>1276142
Rs encouraged everyone to spend all their money as fast as possible. Rs are pro inflation party.

Anonymous

Anonymous Sun 10 Mar 2024 02:13:04 No.1276144 Report

Quoted By: >>1276146

>>1276140
>surely trumps 20% tariff
What does this have to do with anything?
I'm thinking you're giving a biased answer on purpose there, son.
Might wanna check that.

Anonymous

Anonymous Sun 10 Mar 2024 02:15:47 No.1276145 Report

Quoted By: >>1276147 >>1276151

>>1276141
are you a bot?
>>1276140
nah it was literally biden doing shit like banning small shale companies from business by refusing to give them permits and raising the price of oil royalties for the first time in a century that caused inflation.
also dems did coof. it literally wasn't even real and dems shut down everything to intentionally destroy the economy and rig the 2020 election.
>inb4 trump was president
dems were in charge of the media and most major cities and states. hell it came out cuomo and murphy were intentionally killing olds to try to make trump look bad and cuomo was trying to forge data to not get caught, but then that suddenly stopped being a story because he grabbed some old lady's tits or something

Anonymous

Anonymous Sun 10 Mar 2024 02:16:14 No.1276146 Report

Quoted By:

>>1276142
correlation is not causation.

>>1276144
you think the prices of shit didn't go up from that? you think companies dont push costs to the consumer?

Anonymous

Anonymous Sun 10 Mar 2024 02:17:33 No.1276147 Report

Quoted By: >>1276149

>>1276145
biden gave out more permits to drill for oil than trump did.

Anonymous

Anonymous Sun 10 Mar 2024 02:17:39 No.1276148 Report

Quoted By:

>>1276143
here is a list of presidents who caused the most inflation since 1900
>woodrow wilson
>FDR
>carter
>biden

Anonymous

Anonymous Sun 10 Mar 2024 02:18:54 No.1276149 Report

Quoted By: >>1276150

>>1276147
he only gave them to standard oil/bp so the cartel wouldn't have to deal with the shale companies who lowered the global price of oil under obongo and trump and cause the arab spring and almost killed saudi arabia

Anonymous

Anonymous Sun 10 Mar 2024 02:20:47 No.1276150 Report

Quoted By: >>1276152

>>1276149
absolutely delusional.

Anonymous

Anonymous Sun 10 Mar 2024 02:21:34 No.1276151 Report

Quoted By: >>1276152

>>1276145
Pandemics raise real wages. Highest real wages currently for gen x, millenials, and gen y. Dems raise real wages and lower taxes on homeowners?

Anonymous

Anonymous Sun 10 Mar 2024 02:23:09 No.1276152 Report

Quoted By: >>1276153 >>1276155

>>1276150
weird how all the oil shale companies are dead now and we are back to the obongo era cartels
>>1276151
there are a record number of homeless and millennials and zoomers can't afford to buy a house and food costs are up. sounds like real wages are down if people can't afford to have shelter

Anonymous

Anonymous Sun 10 Mar 2024 02:29:18 No.1276153 Report

Quoted By: >>1276158 >>1276160

>>1276152
Meanwhile corporate profits are at all time high. This MUST be Biden's fault.

Anonymous

Anonymous Sun 10 Mar 2024 02:34:54 No.1276155 Report

Quoted By: >>1276158

>>1276152
Zoomers I know bake their own bread for pennies while reaping pay increases and thank goodness dems are lowering tax burden for homeowners.

Anonymous

Anonymous Sun 10 Mar 2024 02:36:33 No.1276158 Report

Quoted By: >>1276169

>>1276153
>corporations benefit from having control over the government and its regulatory powers and use those regulatory powers to kill competition
wow, I would have never thought.
>>1276155
what is the current salary to house price ratio?

Anonymous

Anonymous Sun 10 Mar 2024 02:39:14 No.1276160 Report

Quoted By: >>1276428

>>1276153
Probably. All the corporations helped him get elected after all.
And it did happen under him, whereas it wasn't an issue not under him.

Anonymous

Anonymous Sun 10 Mar 2024 03:06:58 No.1276169 Report

Quoted By:

>>1276158
Similar to your iq. Between 3 and 10.

Anonymous

Anonymous Sun 10 Mar 2024 03:36:55 No.1276173 Report

Quoted By:

>>1275872
He literally caused the housing crisis...

https://www.businessinsider.com/gen-z-millennials-job-market-unemployment-rate-economy-career-news-2024-3

Anonymous

Anonymous Mon 11 Mar 2024 01:10:34 No.1276361 Report

Quoted By:

I'm enjoying the chud copes ITT

Anonymous

Anonymous Mon 11 Mar 2024 03:09:39 No.1276428 Report

Quoted By:

>>1276160
corporations donate to both sides.

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