UNAFFORDABLE HOUSING: Worst Since Peak Of 2006 Bubble, But Economy Is ‘Strong’?

Written by Wes Walker on August 24, 2023

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Culture snobs writing for the coastal media have no idea why Oliver Anthony’s ‘Rich Men North Of Richmond’ took off the way it did.

James Carville might be able to shed some light on that for them. ‘It’s the economy, stupid.’

Working stiffs from all walks of life hear him singing about ‘bulls**t hours for bulls**t pay’ and a ‘dollar ain’t s**t and it’s taxed to no end’ and they know EXACTLY what he means.

Biden can pat himself on the back all he wants, but his obscene spending together with cranking up regulations and energy prices — the latter driving up the input costs of EVERYTHING we buy — gives us ALL a lower standard of living.

Credit card debt under Biden has hit record highs. Inflation has soared.

America’s credit rating took a downgrade. Interest rates rose.

Now, Joe Biden, supposed hero to the middle class is driving interest rates into the stratosphere. Homeowners are getting jackhammered.

The housing market is so unaffordable, that conditions are even worse than they were at the peak of the housing bubble that preceded the subprime mortgage crisis, according to the Atlanta Federal Reserve.

The Atlanta Fed’s Home Ownership Affordability Monitor dropped to 69.5 in June from 70.1 in May. While the index was below 69 last September and October, the latest reading still is lower than in 2006 when housing affordability troughed at 71.5 in July of that year.

The index’s current level is also 30.5 points lower than the Affordability Threshold of 100, which represents a median-income household spending 30% of its income on housing costs.

Affordability woes are largely the fault of high mortgage rates, with the average 30-year fixed mortgage rate clocking in at a 23-year high of 7.48% this week. — Insider

For all of his ‘bottom up and the middle out’ nonsense, Biden hasn’t been saving the middle class, he’s been eviscerating it.

Psalms of War: Prayers That Literally Kick Ass is a collection, from the book of Psalms, regarding how David rolled in prayer. I bet you haven’t heard these read, prayed, or sung in church against our formidable enemies — and therein lies the Church’s problem. We’re not using the spiritual weapons God gave us to waylay the powers of darkness. It might be time to dust them off and offer ‘em up if you’re truly concerned about the state of Christ’s Church and of our nation.

Also included in this book, Psalms of War, are reproductions of the author’s original art from his Biblical Badass Series of oil paintings.

This is a great gift for the prayer warriors. Real. Raw. Relevant.