On Planet Kamala, climate change, not 7% interest rates, is why young people aren't buying homes
What's new on Planet Kamala?
Seems climate change has struck again, and Joe Biden's vice president claims that that's why young people aren't buying homes.
According to the Washington Free Beacon:
Vice President Kamala Harris said young people aren't buying homes because of "climate anxiety," not mentioning the sky-high interest rates under her boss, President Joe Biden.
"Young leaders" suffer from "climate anxiety," which is "their fear about ... whether they should have children, whether they should ever think about buying a home for fear that it might be wiped out because of extreme weather occurrences," Harris said in a Wednesday interview with an Allentown, Pa., news station.
This is laughable. All the young wokesters she's talking about have to do is look at President Obama's coastal mansion-buying spree. Guys like Obama are pretty sure the old mansion isn't going to wash into the sea based on global warming. None of them is. And in any case, cheaper housing is to be had on higher ground.
But it's not cheap, or even marginally affordable, either. Housing prices have hit record highs under Joe Biden. To combat rampant inflation, the Fed has hiked interest rates more than ten times since Joe Biden got into the saddle. Joe spends, and the Fed hikes, and the inflation is still hitting us. That's driven housing prices to an all-time high, and the cost of buying one to even worse highs, because the cost of financing one with a mortgage is now more than 7%.
Mortgage rates last month hit an all-time high, with the interest rate on a 30-year, fixed-rate home loan skyrocketing to 7.09 percent, NPR reported.
"A lot of buyers have been priced out," National Association of Home Builders chief economist Robert Dietz told NPR. "If you don't have access to the bank of mom and dad to get that down payment, it's very challenging."
No kidding. But that's not something the Biden administration would like to highlight, not when global warming is there to serve as a sin-eater for all of its reign-of-error policy blunders.
So now the old gaslighting is continuing, and Harris is starting to sound as though she lives on another planet. This time, it's around why young people don't want to buy homes. Apparently, she thinks young people can just print up money the way the Fed does when they need a home, but they don't want to, because climate change, poor things.
This has to be one of the stupidest and most dishonest claims the Bidenites have ever made, and don't think the young who have faced these mortgage rates aren't going to notice. Polls show they are fleeing to President Trump in droves.
Image: Screen shot of 69News, Washington Free Beacon video via YouTube.