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Home ownership rate has fallen FAR more under Obama then any other POTUS[W:27]

DA60

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

And while Obamabots are at it trying to either deflect, blame others or spin the above...

...maybe they could also explain to us all how this - current food stamp usage - is possibly not a bad thing?

fredgraph (1).jpg

https://fred.stlouisfed.org/series/TRP6001A027NBEA


These two charts call out loudly and clearly that the middle class is dying and the poor have grown in numbers under Obama...both at alarming rates.


Let the spinning begin.
 
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PeteEU

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Home ownership has fallen because of the credit crunch that has nothing to do with Obama.

Food stamps going up is a consequence of the credit crunch that caused the fall in home ownership.

All the above is because of failed economic policies going back decades... mostly GOP policies.. and again nothing at all to do with Obama.
 

DA60

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Home ownership has fallen because of the credit crunch that has nothing to do with Obama.

Food stamps going up is a consequence of the credit crunch that caused the fall in home ownership.

All the above is because of failed economic policies going back decades... mostly GOP policies.. and again nothing at all to do with Obama.

What are you talking about?

There has not been a credit crunch for roughly 5 years, not a major one for over 6...yet the home ownership rate continues to plummet overall.

united-states-consumer-credit.png


United States Consumer Credit Change | 1950-2016 | Data | Chart | Calendar



Plus, US construction spending since 2011 is right around historical norms (until recently).

united-states-construction-spending.png


United States Construction Spending | 1964-2016 | Data | Chart | Calendar


And how can there be a 'credit crunch' when new home sales have been steadily growing since 2011? Are they now resorting to bartering to buy new homes?


united-states-new-home-sales.png


United States New Home Sales | 1963-2016 | Data | Chart | Calendar


And look at existing home sales

united-states-existing-home-sales.png


United States Existing Home Sales | 1968-2016 | Data | Chart | Calendar


There is NO 'credit crunch' nor has their been for about a half a decade,
yet the home ownership rate has fallen rapidly during that time.
 
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MaggieD

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Home ownership has fallen because of the credit crunch that has nothing to do with Obama.

Food stamps going up is a consequence of the credit crunch that caused the fall in home ownership.

All the above is because of failed economic policies going back decades... mostly GOP policies.. and again nothing at all to do with Obama.

Saying the problem is "a credit crunch" is a lot like saying the sky is blue. As for as blaming the GOP (yet again) that, Pete, is a subject for a separate thread.

Why is there a credit crunch? There's a credit crunch because of unprecedented student loan debt, revolving credit also unprecedented, poor credit ratings, uneducated consumers getting in over their heads and a banking industry that finally decided they'd make sure borrowers could likely pay them back before they lend money.

In the opinion of THIS realtor, the numbers here are a GOOD sign.
 

Henrin

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Saying the problem is "a credit crunch" is a lot like saying the sky is blue. As for as blaming the GOP (yet again) that, Pete, is a subject for a separate thread.

Why is there a credit crunch? There's a credit crunch because of unprecedented student loan debt, revolving credit also unprecedented, poor credit ratings, uneducated consumers getting in over their heads and a banking industry that finally decided they'd make sure borrowers could likely pay them back before they lend money.

In the opinion of THIS realtor, the numbers here are a GOOD sign.

And the government giving people pell grants is a big reason why student loan debt got out of control. Of course, the government giving people pell grants is not a GOP idea. :cool:

Oh and btw, we are talking about an increase of 55 cents for each dollar provided in pell grants.
 
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KevinKohler

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Home ownership has also fallen because wages have stagnated, while the cost of living has not.

Every year people work and only recieves about a 2-3.5% increase in pay...they are WORSE off than the previous year. Hard to buy a home if all you do every year is become a little poorer.
 

Fletch

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Home ownership has fallen because of the credit crunch that has nothing to do with Obama.

Food stamps going up is a consequence of the credit crunch that caused the fall in home ownership.

All the above is because of failed economic policies going back decades... mostly GOP policies.. and again nothing at all to do with Obama.

Psst. Obama has been president for 8 years. If you are going to argue that the problems that exist predate his taking office, then what you are really saying is that he has been a failure as a president.
 

Rico Suave

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Home Ownership Rate

View attachment 67205722

https://fred.stlouisfed.org/series/RHORUSQ156N

Plus, home ownership rate now matches the lowest level on record in America.


How is this POSSIBLY not a bad thing?


Once again, I am neither Dem nor Rep.

Home ownership is not necessarily a good thing. I own my home free and clear but I wouldn't mind renting. Home ownership is an out of date metric of economic health..
 

ocean515

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Home ownership has fallen because of the credit crunch that has nothing to do with Obama.

Food stamps going up is a consequence of the credit crunch that caused the fall in home ownership.

All the above is because of failed economic policies going back decades... mostly GOP policies.. and again nothing at all to do with Obama.

:roll:

Credit crunch? Food stamps because of the credit crunch?

I can't imagine where you came up with the data to support that. Perhaps your post is just an ideological hiccup.

There are fingers to point, but 7 of them point to 1600 Pennsylvania Avenue.
 

Tanngrisnir

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Breaking: correlatino does not prove causation. Film at 11.
 

ocean515

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Breaking: correlatino does not prove causation. Film at 11.

:roll:

“Any fool can know. The point is to understand.”
― Albert Einstein
 

Tanngrisnir

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

:roll:

“Any fool can know. The point is to understand.”
― Albert Einstein

Sage advice. I suggest you look into trying that one day.
 

PeteEU

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

There is NO 'credit crunch' nor has their been for about a half a decade,[/B] yet the home ownership rate has fallen rapidly during that time.

The average consumer is still dealing with it for **** sake. People who have gone belly up with their home do have a hard time getting another loan for a home right? Well 1+1 = 2..
 

PeteEU

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Saying the problem is "a credit crunch" is a lot like saying the sky is blue. As for as blaming the GOP (yet again) that, Pete, is a subject for a separate thread.

Why is there a credit crunch? There's a credit crunch because of unprecedented student loan debt,

What???!?

revolving credit also unprecedented,

Horse****.. Americans have always been world champions or close to with the credit card mentality.

poor credit ratings,

Corrupt credit ratings is more accurate.

uneducated consumers getting in over their heads

Yea blame the victim instead of the predator..

and a banking industry that finally decided they'd make sure borrowers could likely pay them back before they lend money.

LOL what? The banking industry created the freaking credit crunch.. they were 10000% to blame along with their brown-nosing politicians on both sides of the political scale.

In the opinion of THIS realtor, the numbers here are a GOOD sign.

Ahh that explains the above views... denial much? Guess you were not involved in predatory lending practices that caused the credit crunch?
 

PeteEU

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Psst. Obama has been president for 8 years. If you are going to argue that the problems that exist predate his taking office, then what you are really saying is that he has been a failure as a president.

Pst.. stuff like this does not fix it self overnight, especially with the GOP cockblocking Obama at every turn. The mentality that created the problem is still out there, and it is coming back... there will be another credit crunch sooner than later, because the problem was never really fixed.. just paved over with wet paper..

In the mean time millions of Americans cant get loans because of their piss poor credit ratings due the criminal actions of the banks... who were never punished.
 

PeteEU

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

:roll:

Credit crunch? Food stamps because of the credit crunch?

I can't imagine where you came up with the data to support that. Perhaps your post is just an ideological hiccup.

There are fingers to point, but 7 of them point to 1600 Pennsylvania Avenue.

God, do Conservatives not know anything about basic economics? People losing their homes due to unemployment or/and high debt, dont just get over that ... over night. Add to that next to no wage increase over the last 20+ years and well.. Go look it up, it is all out there.. granted it aint being promoted on right wing blogs..
 

ocean515

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

God, do Conservatives not know anything about basic economics? People losing their homes due to unemployment or/and high debt, dont just get over that ... over night. Add to that next to no wage increase over the last 20+ years and well.. Go look it up, it is all out there.. granted it aint being promoted on right wing blogs..

I can comfortably say there are conservatives who know about basic economics. Even complex economics. That's why they are pointing to the lack of leadership and poor policy decisions coming out of the Obama Administration and from liberal/socialist progressives in Congress.

Simply exclaiming things are difficult to overcome overnight points to a rather significant lack of understanding of basic economics. Overnight? It's been almost 8 years.

I guess the only thing being promoted on left wing blogs are excuses...
 

MaggieD

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

God, do Conservatives not know anything about basic economics? People losing their homes due to unemployment or/and high debt, dont just get over that ... over night. Add to that next to no wage increase over the last 20+ years and well.. Go look it up, it is all out there.. granted it aint being promoted on right wing blogs..

People didn't lose their homes due to unemployment. They lost their homes because they were upside down with their mortgages. They defaulted because they had balloon payments due thanks to gimmicky mortgage products requiring refi's after three years and homes that had lost so much value, the borrower COULDN'T refinance. Many of them defaulted because they made a conscious decision to default. In mortgage products requiring very little or no equity, when housing prices fell by 25%, why would ANYONE continue making payments?

As to food stamps, I'm with Ocean. Please explain how people collecting food stamps CAUSES a credit crunch.
 

Fletch

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

Pst.. stuff like this does not fix it self overnight, especially with the GOP cockblocking Obama at every turn. The mentality that created the problem is still out there, and it is coming back... there will be another credit crunch sooner than later, because the problem was never really fixed.. just paved over with wet paper..
And who has been in charge for the last 8 years while all this 'papering over the problem' has gone on? Thats right, Obama.

n the mean time millions of Americans cant get loans because of their piss poor credit ratings due the criminal actions of the banks... who were never punished.
And who had 8 years to 'punish this criminal behavior?' Thats right, Obama. Glad to see that we agree that he has been a failed president.
 

Fletch

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Re: Home ownership rate has fallen FAR more under Obama then any other POTUS

God, do Conservatives not know anything about basic economics? People losing their homes due to unemployment or/and high debt, dont just get over that ... over night. Add to that next to no wage increase over the last 20+ years and well.. Go look it up, it is all out there.. granted it aint being promoted on right wing blogs..

Over night???? Dude, its been 8 years.
 
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