In politics, it is usually discussed whether you are better off today than 4 years ago. Well, not if you are a renter or need to buy a home with mortgage financing.
If you are a homeowner, you are better off in terms of home equty. With the Case-Shiller National home price index up 34% since Biden’s selection as President. That is the good news.
The bad news? Property taxes are soaring and home insurance rates are up.
The worst news? The 30 year conforming mortgage rate is up 147% under Biden.
If you are a renter, you are worse off because of rising rents and the diffculty of transitioning to homeowership. Despite slowing, rental CPI is still growing at 5.3% YoY.
Views:
61