Musings on the market by Bill Roberts.
This week the 30 year mortgage rate spiked up to 4.5%. It was only 3.5% a
short time ago.
Most economic forecasts call for "growth" below what we know the inflation
rate to be.
ObamaCare kicks in this year. Businesses are saying they can't afford it. They
plan to OUTSOURCE as much of their production and services as they can.
They will "FIRE" some people and reduce the working hours of others to be
below 30 hours per week in an effort to reduce or eliminate the cost of
ObamaCare.
All of this does not bode well for the housing market.
Congress wants to eliminate the deduction for mortgage interest.
The FED wants to stop buying Mortgage Backed Securities.
The DOJ is fomenting political and racial unrest.
None of this is good for the housing market.
Businesses, People, and Their Money are moving OFF-SHORE.
our IMMIGRATION POLICY favors illegal unskilled labor and discourages
immigration by highly skilled and highly educated people.
This just can't be good for the housing market.
All that said, I still believe that it is only prudent to own your own home.
Even 4.5% interest is "CHEAP" when compared to the possibility of runaway
inflation. And runaway inflation is quite likely because of the FED's policy of
printing money NON-STOP.
A FREE AND CLEAR home makes retirement just a little bit easier and
provides peace-of-mind.
Owning your own home provides stability for the family.
And if the economy is ever going to really recover, the housing market needs
to be strong. We can do our part by increasing home ownership.
Do Something
We can work "politically" to make it easier to build new houses. We need to
"ROLL BACK" some of the onerous zoning regulations, the clean air and clean
water "rules" the really have nothing to do with clean air or clean water but
are meant to stop all development. We can reduce the fees that cities and
counties are charging for permits to build houses.
There is a lot we can do. This is our country and we need to take it back from
the "activists" that are destroying our way of life.
I hope the housing market continues to recover. It is in all of our interest.
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