Housing in a time of rising mortgage rates: A big jump in mortgage rates is here to stay for these reasons.
In the midst of everything that is going on, the bond market took a big hit to the tune of $1 trillion. What this means is that mortgage rates tied to Treasury bonds had a massive move, the largest in many years. The 30-year fixed rate mortgage rate jumped to nearly 4 percent, the highest […]
The Suburban Ghetto: Today one in three poor Americans, about 16.4 million people live in the suburbs.
We tend to think of the suburbs as middle class utopias. When people think of the American Dream they usually draw up a picture of a home with a picket white fence in the suburb. Poverty is usually left to inner cities and crammed multi-family dwellings. So it might come as a surprise that over […]
The American Dream has imploded with the Homeownership rate hitting another low: Most Americans too broke to buy a Home.
Owning a home is symbolic with having a piece of the American Dream. The stereotypical picket white fence with a nice lawn is easily conjured up in the minds of many. Yet for many, this is only a dream because it will never become reality. The American Dream has imploded with many other areas of […]
Spending it all on rent: 11 million Americans spend half their income on rent. Another 21 million spend over 30 percent of their income on rent, a record high.
The financial raiding of the American middle class is moving full steam ahead. The ridiculous structure of the banking bailouts and artificially low interest rates caused hot money from banks and big investors to crowd out regular families in the housing market. Now here we are 7 years after the official conclusion of the Great […]