Democrats Make Home Ownership Impossible
Americans are doomed.
For the first time ever, the national cost for an average home in the United States has exceeded $400,000.
According to Fox Business, mortgage rates are climbing higher along with the home prices. Currently, the rates for a 30-year fixed mortgage increased to 5.22% compared to the previous 4.99%.
Freddie Mac’s chief economist Sam Khater explained, “Although rates continue to fluctuate, recent data suggest that the housing market is stabilizing as it transitions from the surge of activity during the pandemic to a more balanced market. Declines in purchase demand continue to diminish while supply remains fairly tight across most markets. The consequence is that house prices likely will continue to rise, but at a slower pace for the rest of the summer.”
Furthermore, the national median single-family home prices increased by 14.2% annually to $413,500 passing the $400,000 limit.
