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Biden’s Economic Policy Sends Home Market into Tailspin

As the housing market’s turbulence recycles back into the depths of our oceanic economy, the effects could be profound…especially with Joe Biden steering the ship.

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If we remember back to the 2020 election, (which feels like it was a decade or two ago at this point), we will be reminiscing on one of the most reluctant contestants to ever win such a mighty prize:  Joseph Robinette Biden Jr.

Joe Biden didn’t want to run, and came in late, with the appearance that the Democratic Party had made a hefty plea in order to secure his candidacy.  They believed that he was the only potential candidate that could snag enough midwestern moderates out from under Donald Trump’s bombastic headlines.

But Biden wasn’t having it.  His relatively rare campaign appearances were lackluster and tepid and lukewarm.

Then, when he got to the Oval Office, he began to govern reluctantly, slowly, and with little gusto.  And so, as expected, the Biden agenda is failing to produce results, and the tidal churning of the economy as a hole is getting choppy.  Whitecaps are beginning to form now, as this rolling goliath of currents and currency churns us all asunder.

The latest casualty of this frothy fiscal smothering is the US housing market.

Inflation is weighing on homes sales as the Fed scrambles to control price levels by pushing up interest rates.

Existing-home sales dropped 7.2 percent between January and February, falling to a seasonally-adjusted, annual rate of 6.02 million, according to data released by the National Association of Realtors on Friday. Sales are down more than 2 percent compared with a year ago.

Analysts surveyed by Econoday had projected existing-home sales to come in at 6.17 million.

And it gets worse:

“Housing affordability continues to be a major challenge, as buyers are getting a double whammy: rising mortgage rates and sustained price increases,” said Lawrence Yun, chief economist for the National Association of Realtors. “Some who had previously qualified at a 3% mortgage rate are no longer able to buy at the 4% rate.”

The median sales price for an existing home in February was $357,300, 15 percent above the year ago median price. But due to rising mortgage rates, monthly payments are now 28 percent higher than they were a year ago, Yun said.

As the housing market’s turbulence recycles back into the depths of our oceanic economy, the effects could be profound…especially with Joe Biden steering the ship.

Opinion

Republican Turnout far Exceeds Democrats | Schaftlein Report

Guest: Jeffrey Dunetz – LidBlog Author ( LidBlog.com )

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Republican Turnout far Exceeds Democrats | Schaftlein Report
—————————-
Guest: Jeffrey Dunetz – LidBlog Author ( LidBlog.com )
Topics:
1) Democratic turnout increase by 3% while Republican gains were 38%
*GOP is up on the Generic ballot by a range of 4-8%
2) In Georgia where Biden claimed “Jim Crow laws to prevent voting among minorities”, there is record turnout – Another Democratic lie exposed for the fraud they portray
3) Oz leads McCormick by 1,240 votes with mail in ballots still being counted – The lead is shrinking
4) Speculation about Biden not running in 2024 grows – Why would he – His presidency has been a total failure
*His approval rating is at 36-39%
5) Russian colonel on state TV says the war is lost in a stunning revelation
6) Russian Denazification is total propaganda and hypocrisy
7) China is in discussion with Russia to buy discounted oil
8) Gas prices hit an average of $4.59 today the highest ever
a. Mortgage demand plummets as rates on mortgages rise to highest level in 13 years
b. Initial jobless claims increase to 218K to touch highest level since January – It is still very low as jobs are plentiful
9) DHS “pauses” the Disinformation Board – For now?
10) Musk claims Democrats are the party of division and hate – We agree

https://rumble.com/embed/v12psp7/?pub=4 Republican Turnout far Exceeds Democrats | Schaftlein Report —————————- Guest: Jeffrey Dunetz – LidBlog Author ( LidBlog.com ) Topics: 1) Democratic turnout increase by 3% while Republican gains were 38% *GOP is up on the Generic ballot by a range of 4-8% 2) In Georgia where Biden claimed “Jim Crow laws to prevent voting among minorities”, there is record turnout – Another Democratic lie exposed for the fraud they portray 3) Oz leads McCormick by 1,240 votes with mail in ballots still being counted – The lead is shrinking 4) Speculation about Biden not running in 2024 grows – Why would he – His presidency has been a total failure *His approval rating is at 36-39% 5) Russian colonel on state TV says the war is lost in a stunning revelation 6) Russian Denazification is total propaganda and hypocrisy 7) China is in discussion with Russia to buy discounted oil 8) Gas prices hit an average of $4.59 today the highest ever a. Mortgage demand plummets as rates on mortgages rise to highest level in 13 years b. Initial jobless claims increase to 218K to touch highest level since January – It is still very low as jobs are plentiful 9) DHS “pauses” the Disinformation Board – For now? 10) Musk claims Democrats are the party of division and hate – We agree

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Opinion

Empire State Goes Tyrannical with Social Media Spying Plan

This is NOT okay.

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There are plenty of ways in which American politicians can react to a tragedy, with a great many of those options being a bit shortsighted.

This is especially true of Democrats, it seems, as their innate progressivism makes them uniquely obsessed with change for the sake of change – even when those changes may be constitutionally questionable.

The latest example of this comes to us from New York, where a racist massacre at a grocery store has the state government looking to spy on citizens’ social media accounts.

New York Gov. Kathy Hochul (D) on Wednesday announced plans to create a police unit designed to, in part, combat “hate speech” in the wake of the tragic shooting in Buffalo, promising to “confront this epidemic head-on.”

“We’re proposing a comprehensive plan to combat domestic terrorism, strengthen state gun laws, & investigate social media platforms promoting violent extremism,” Hochul announced Wednesday.

“In wake of the racist act of terror in Buffalo, New York will lead the charge to confront this epidemic head-on”.

The devil was in the (lack of) details:

One of the governor’s executive orders instructs the State Police to establish a “dedicated unit within the New York State Intelligence Center (NYSIC) to track domestic extremism and increase social media monitoring at the Intelligence Center.”

“The unit will be responsible for developing investigative leads based on social media analyses focused on radical extremist activities motivated threats by identifying online locations and activities that facilitate radicalization and promote violent extremism,” it reads in part.

Without any clear or concise guard rails, those employed within the unit would be left to examine any number of questionable pieces of alleged “evidence”, tagging and cataloging completely harmless users in the sort of overreach that would have George Orwell not only rolling over in his grave, but kicking at the lid of his coffin as well.

There are plenty of ways in which American politicians can react to a tragedy, with a great many of those options being a bit shortsighted. This is especially true of Democrats, it seems, as their innate progressivism makes them uniquely obsessed with change for the sake of change – even when those changes may be constitutionally questionable. The latest example of this comes to us from New York, where a racist massacre at a grocery store has the state government looking to spy on citizens’ social media accounts. New York Gov. Kathy Hochul (D) on Wednesday announced plans to create a police unit designed to, in part, combat “hate speech” in the wake of the tragic shooting in Buffalo, promising to “confront this epidemic head-on.” “We’re proposing a comprehensive plan to combat domestic terrorism, strengthen state gun laws, & investigate social media platforms promoting violent extremism,” Hochul announced Wednesday. “In wake of the racist act of terror in Buffalo, New York will lead the charge to confront this epidemic head-on”. The devil was in the (lack of) details: One of the governor’s executive orders instructs the State Police to establish a “dedicated unit within the New York State Intelligence Center (NYSIC) to track domestic extremism and increase social media monitoring at the Intelligence Center.” “The unit will be responsible for developing investigative leads based on social media analyses focused on radical extremist activities motivated threats by identifying online locations and activities that facilitate radicalization and promote violent extremism,” it reads in part. Without any clear or concise guard rails, those employed within the unit would be left to examine any number of questionable pieces of alleged “evidence”, tagging and cataloging completely harmless users in the sort of overreach that would have George Orwell not only rolling over in his grave, but kicking at the…

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