Top Tweets for #HousingFixed
This is the situation. Boomers grew wealth at unprecedented pace via @federalreserve interventions. Now they believe they “earned” it & nothing is affordable for their kids, thanks to the Boomer’s glib indulgence. Timing your birth matters. We need deflation to get #HousingFixed
@VladTheInflator Spoke to a retired boomer who receives a huge pension for working her whole life for the government who has owns 7 properties bought cheaply during ZIRP that she refuses to sell and let go because she enjoys the rental income. Meanwhile, her 40 year olds can’t afford a home.
We don’t have a shortage of housing. We have misallocations of housing, thanks to over a decade of QE by the @federalreserve following three decades of dropping rates. Monetary policy has been Santa Claus to homeowners & the grinch to everyone else. #SellMBS to get #HousingFixed!
Getting #HousingFixed will never come through more supply or price caps. It comes by undoing what the @federalreserve did to pump prices in the first place and blocking the opportunists who ran roughshod over youth with no regard for societal impacts. #SellMBS!
Price fixing is bad for consumers. But, even if we did eradicate it from the rental market, we would still be short 4 million+ homes and facing an affordability crisis.
It is an absolute lie we have a housing shortage. We encouraged the misallocation of homes via @federalreserve QE. If that is not true, #SellMBS. If it is true, #SellMBS. Why can’t the “leaders” admit this? Both parties seem to struggle with this idea. Get #HousingFixed.
It’s not your avocado toast. Families are struggling with housing costs because we have a national housing shortage.
We need to build more housing, and I have a bill to do just that – all paid for by making the wealthy pay their fair share.
Low supply is a lie. So is lower rates as a solution to housing affordability. The quickest, most efficient, least painful way to get #HousingFixed is for the @federalreserve to #SellMBS. It is so simple, but no one wants to admit it: credit drives demand drives prices.
@Econimica
These talking points are nonsensical, and judging by the comments, they aren't landing.
The reason housing costs are so high is straight forward, a lack of supply. I wish pundits would cut to the chase and ask candidates: "How do you plan to increase the supply of housing?"
@FairweatherPhD Low supply is a lie. So is lower rates as a solution to housing affordability. The quickest, most efficient, least painful way to get #HousingFixed is for the @federalreserve to #SellMBS. It is so simple, but no one wants to admit it: credit drives demand drives prices.
The @federalreserve needs to #SellMBS so we get #HousingFixed so we don’t depopulate the tax base and economic growth engine. Also, immigration is just a solution for the older generations, not the youth, who will be displaced and have much lower standards of living.
ALERT: US population growth has completely collapsed
Reaching levels near 0% = almost NO growth
This is worse than even the Great Depression
Someone understands how to get #HousingFixed! Inflation, depopulation, overly burdensome taxes are all handled better if we allow deflation to take place.
@NipseyHoussle There would be a heckuva a lot more children, for one. Household formation is dramatically slowed when people can't afford homes. This may be a hot take, but instead of having policies that drive up prices, I think the goal should be to keep home prices as low as possible.
My fear, @realDonaldTrump, is the @federalreserve will never #SellMBS, & the long slog of economic recovery is allowed to take place and we never get #HousingFixed. The country must undo what was done in the wake of the GFC. #DeflationIsGood. It builds the middle class.
Donald Trump has said, per Bloomberg: Fed should abstain from cutting rates before November election
This soullesness can only thrive in an environment of high leverage & cheap credit, fostered by the @federalreserve. The Fed should #SellMBS to get #HousingFixed. We must not allow #FinancialCannibalism to be the “path to wealth”, as it will result in hollowing out incentives to work.
We can’t build our way out of abused markets. Since 1980, rates dropped from 18% to 2.25%, 2020 to 2022. Since 2009, @federalreserve went from owning 0 to 1/4 of mortgages in the US. We let the printer$ subsidize home loans. Opportunists loaded up. #SellMBS to get #HousingFixed!
Rent control would make the housing affordability crisis worse, not better.
Hard to find something economists agree on more than that.
The only solution to a shortage of housing is to build more housing.
Why is everyone dancing around the apprehension to #SellMBS as confirmation that MBS purchases by the @federalreserve was THE driver of home price growth?
Let’s just be honest. We priced kids out of houses so we could all feel rich for a while. We need #HousingFixed!
It is a crime what our country has done to its youth. We locked them out of the traditional paths to home ownership & pretend they can just work like past generations. We need deflation. #DeflationIsGood. We need #HousingFixed. The @federalreserve needs to #SellMBS to undo their mess.
Gen Z definitely looks at housing differently than older generations.
They are doing the math on renting vs buying and realizing the numbers don’t add up.
It’s much cheaper to rent with much less risk longer term and you also keep your mobility.
The solution to housing costs is to enslave 2 people rather than 1. Makes sense.
We need #HousingFixed.
@StealthQE4 Get married. Problem solved.
2 Incomes > 1 Income
@texasrunnerDFW If you are as capitalist as you portray here, why haven’t you been raising the awareness of the need to #SellMBS? That would take real capitalism. We would see prices return to what people could afford. We need #HousingFixed.
There is a way: #HousingFixed
1)@federalreserve to #SellMBS
2)@HUDgov to moratorium single family home purchases for anything other than a primary residence
3)Congress taxes unleased SFHs held by corporations, including LLCs
4)HUD releases the GSEs from conservatorship
Home prices jump as Washington eyes the effective nationalization of second mortgages.
For 50 years Washington has done everything to pump house prices. They’ve finally done it, pricing the young and the working class into renting for life.
As for the millions waiting for the bubble to finally burst, it may never happen.
I am so glad @kylascan could listen to @profgalloway right now. She’s been the mockingjay for the “vibecessionistas” like @paulkrugman @federalreserve @USTreasury @SecYellen @POTUS who are so out of touch w/ youth. We need #HousingFixed & to stop importing votes & cheap labor.
We can keep dragging this out with the slow Band-Aid peel of interest-rate hikes, and subsidy programs to help make “housing more affordable”.
OR
WE CAN GET #HOUSINGFIXED! #SellMBS, @federalreserve! Undo what you did to housing.
JUST IN: US renters now must earn over $66,000 a year to afford a typical apartment, the 2nd highest amount ever.
Median income needed to afford renting is up 24% since the 2020, according to Redfin.
By comparison, a typical US renter household earns $54,712 annually, which is $11,408 less than the required amount.
As a result, only 39% of renters earn enough to pay for the median-priced apartment.
In New York, the median income needed to afford an apartment rental is now a staggering $119,120 per year.
Renting and buying are both unaffordable.
When the people cannot afford homes, in rides @POTUS & @HUDgov to perpetuate disparity between incomes & home prices. #SellMBS & we will see home prices align to incomes. @federalreserve
We need #HousingFixed!
New Home Sales out in 3 hours....
Based on Zelman survey May isn't looking so hot
But, never fear....
https://t.co/7MA8fALz7Q
We need the @federalreserve to #SellMBS if we are to ever get #HousingFixed. How many young people must we lay siege to keep the false gains. Deflation is a good thing. Thank you, @LanceRoberts
Four years ago we had $180k in home equity.
Today we have $376k in home equity.
But we don’t plan on moving again.
So I’m not sure how much this home equity really matters, other than putting me closer to having a paid for house.
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