Post New Article

America's housing nightmare: Skyrocketing
home costs mean renting is now cheaper
than buying a starter house in THREE QUARTERS
of the US - but both are at record highs

Original Article

Posted By: Ribicon, 7/22/2022 4:35:14 PM

With both rent and homebuyer costs soaring to record highs, the eternal question of whether to rent or buy has never been tougher. According to a report from Realtor.com on Thursday, renting is now cheaper than buying a starter home in three-quarters of the top 50 US cities—a stark change from a few months ago, when buying typically cost less. Median rent hit a record high of $1,876 in June, up 14 percent from a year ago—but that still represented a monthly savings of $561 from the monthly cost of buying a first home, which jumped to $2,437, the report found. As recently as January, buying a starter home

Comments:

The New American Dream: unless you're a 1%er, you will own nothing, and you will like it. You will also become accustomed to the unique taste and crunch of roasted crickets and room-temperature roach milk (no unnecessary use of electricity, please).

Post Reply

Reply 1 - Posted by: DVC 7/22/2022 4:53:41 PM (No. 1225119)
And Blackrock is getting ready to buy up $50 billion in homes as the market sours. And they will RENT them. WEF and globalists say, in their dystopic future "You will own nothing...." And they MEAN it. :
7 people like this.

Reply 2 - Posted by: WV.Hillbilly 7/22/2022 5:24:17 PM (No. 1225141)
Used to be, renting was always cheaper than buying.
4 people like this.

Reply 3 - Posted by: EJKrausJr 7/22/2022 5:40:24 PM (No. 1225146)
Who has bought most of the houses in America - 1 in 7 homes are owned by Wall Street. They set the prices for renting the homes. Home ownership is no longer an option by individuals, they are being priced out of the market. Houses are being acquired by investor corporations as assets.
4 people like this.

Reply 4 - Posted by: Lazyman 7/22/2022 5:56:37 PM (No. 1225155)
As you go through the old Census you see that many less people owned their homes. The American dream was working into our times and now we are in reversal. Blackrock is the new owner of the dream.
5 people like this.

Reply 5 - Posted by: Starboard_side 7/22/2022 6:06:49 PM (No. 1225174)
#1, and they will want you to like it too. The founder of WEF has been working on this since 1971, and with the top 1000 business and political elites involved, and realizing their elevated place within the ultimate structure that will result, there is little resistance at the top levels. Now, you can see why it was such an onslaught to "get Trump" and why some consider him "dangerous".
5 people like this.

Reply 6 - Posted by: GoodDeal 7/22/2022 6:08:54 PM (No. 1225180)
Renting only buys you time and you will never see the money again. Buying a home builds equity and that money you will see again someday.
4 people like this.

Reply 7 - Posted by: JackBurton 7/22/2022 6:12:19 PM (No. 1225184)
I'm paying about 4 times in property taxes what I paid for the mortgage on my first home. I'm in my second, a house that was built a bit of 100 years ago. Nice house but just shelled out $2500 for a new water heater. Paid about 5k to have a new drain put in to the city sewer 18 months ago. $800 for a new dishwasher 2 months ago. Can't wait to find out what will poop out next. Criminy.
5 people like this.

Reply 8 - Posted by: jimboscott 7/22/2022 8:03:17 PM (No. 1225261)
Just a little more than 6 months ago, after a separation and divorce, I was renting an 800 square foot one bedroom apartment for 1463.00/month. At the very end of 2021 I closed on a 2300 square foot, brand new three bedroom ranch home with nice finishes and my principle and interest is 100.00 month more than the rent was. Now, the house has gone up about 70,000 in 6 months and my property taxes are about 500.00/month, but I consider ownership as a no-brainer. Consider too that the principle (minimum of ~560.00 month) is really money that I am paying my estate as my equity grows. BTW, look at a log chart of median home values since about 1960. The rate of doubling has actually slowed DOWN in the last 15 years, even with the recent bump in appreciation. Doubling took about 8 years in the 1960's, then about 10 years in the 70's... then about 13... And there was a period of 10 years from 2005 - 2015 in which home values moved up only 24%, by far the least productive period of time in the last 60 years. Ie., what we are seeing is NOT an anomaly. It is a return to the norm.
2 people like this.

Reply 9 - Posted by: nwcudagal 7/22/2022 8:21:00 PM (No. 1225280)
I've been a homeowner for almost 40 years, but I'm having second thoughts. Maintenance costs and property taxes are out of this world.
2 people like this.

Reply 10 - Posted by: Birddog 7/22/2022 9:48:05 PM (No. 1225354)
Actually...it is the Govt buying up all of the homes, apts, office spaces. They loan Jumbo "Investors" like Blackrock/Stone/Hedgefunds super jumbo amounts in the 10's-100s of Millions at near zero%, who then market that as shares in REITS, which are traded back and forth at ever increasing rates until the inflated "Values" of those real estate properties drops back to something approaching normal, and big $$$ goes Poof!...this all happened before and when the bottom fell out not only did some homeowners end up upside down, but investment houses, many many banks and LOTS of Govt/private sector Union/retirement funds went totally upside down as well. I own my home fee simple...bought at a tax sale for 1/4 of assessed value, it has more than doubled since then. I was tempted last year to take out 50% of equity at 2.35%, put it into improvements at the farm, field work, fences, cattle handling hardware...some registered Highlands...today it would cost nearly 8%,but that equity/market valuation may well plummet. I didn't need to actually "Make Money" on the cattle, govt programs would have refunded nearly 75% of "Improvement" monies spent, and the tax deduction/reduction for converting 300acres to AG land would have been substantial. I could have then bought equity back in the house...or bought more land, or another property to improve. BUT Cattle costs/prices/markets went totally nuts, housing market even crazier here. NOTHING is rationally valued and thus "safe"(Surrounding the Farm a canadian bank exec is buying up the surrounding places for some carbon offset scheme...inflating prices dramatically...He will soon be the largest land owner in the county, which all might collapse if the offset scam fails)
0 people like this.

Reply 11 - Posted by: Birddog 7/22/2022 9:53:04 PM (No. 1225356)
Oh....worlds largest Property management company? Handling properties for these mega realestate investors? TIAA-Cref...the Teachers Union Retirement Fund "non-Profit" company , a $Trillion Dollar corp. ranked between Caterpillar and Oracle on the top 100 list.
2 people like this.

Reply 12 - Posted by: mifla 7/23/2022 5:11:38 AM (No. 1225538)
Houses are expensive and rents are skyrocketing. Even if you want to live in a car, good luck affording one. What a mess.
3 people like this.

Reply 13 - Posted by: coldoc 7/23/2022 6:26:29 AM (No. 1225580)
Still waiting for the crash (what goes up must come down) so we can get these strident overbearing house flipper commercials off of tv.
3 people like this.

Below, you will find ...
Most Recent Articles posted by "Ribicon"
and
Most Active Articles (last 48 hours)
Most Recent Articles posted by Ribicon"
Multiple Trans Activists Arrested for
Sex Crimes Involving Children
4 replies
Posted by Ribicon 7/23/2022 10:26:51 PM Post Reply
Police arrested several pro-transgender political activists for separate sex crimes involving children during June and July. A transgender activist who appeared in the New York Times is one of the activists that has been charged with sex crimes involving children. Reduxx exclusively reported that Carlos Arturo Aparicio Hernandez had been arrested by police in Salt Lake County, Utah. Hernandez was charged with a litany of crimes, including “aggravated sexual extortion and six counts of forcible sodomy as first-degree felonies, and three counts of forcible sexual abuse, enticing a minor, and five counts of sexual exploitation of a minor as second-degree felonies,” the outlet reported.
Biden likely has highly contagious BA.5
strain of COVID but his symptoms including
cough and sore throat are improving, White
House doctor says
9 replies
Posted by Ribicon 7/23/2022 8:35:17 PM Post Reply
President Joe Biden likely has a highly contagious strain of COVID-19, but his moderate symptoms are improving, the White House doctor said in an update on Saturday. The variant, known as BA.5, is an offshoot of the Omicron strain that emerged late last year, and is now believed to be responsible for the vast majority of new coronavirus cases in the country. Dr. Kevin O´Connor, the president's physician, wrote in his latest update on Biden's condition that Biden's earlier symptoms, including a runny nose and a cough, have become 'less troublesome.' O'Connor's earlier notes following Biden's diagnosis on Thursday did not mention the sore throat or body aches.
New study challenges value of antidepressants 6 replies
Posted by Ribicon 7/23/2022 7:54:05 PM Post Reply
A new study is challenging the long-standing theory that a lack of serotonin in the brain causes depression, as well as the value of antidepressants that are designed to address the problem. Researchers at the University College London said evidence doesn’t support the underlying idea, originated 60 years ago, that a “chemical imbalance” in the brain produces a lack of serotonin. That imbalance is what has long driven prescription drugs for antidepressants, known as selective serotonin-reuptake inhibitors, or SSRIs. Common examples of the drug are sertraline (Zoloft), fluoxetine (Prozac and Sarafem) and escitalopram (Lexapro).(Snip)“In fact, drug trials show that antidepressants are barely distinguishable from a placebo
Seminal Alzheimer's study claiming memory-robbing
disease was caused by build-up of protein
in brain may have been MANIPULATED, damning
investigation claims
7 replies
Posted by Ribicon 7/23/2022 7:54:00 PM Post Reply
The data behind the most influential theory of what causes Alzheimer's disease may have been 'manipulated', a damning scientific probe has claimed. Experts fear the allegedly falsified results have misled research over the last 16 years, potentially wasting billions of pounds of funding. A six-month investigation by Science, considered one of the world's most respected research journals, uncovered 'shockingly blatant' tampering of results in the seminal 2006 University of Minnesota study. The paper pointed to a particular protein—known as amyloid beta—as the driving force behind Alzheimer's.(Snip)But images from the study, which involved injecting mice with the protein, appear to be doctored to 'better fit a hypothesis'
Has Florida Man finally met his match?
Meet Florida Sheriff
9 replies
Posted by Ribicon 7/23/2022 2:44:04 PM Post Reply
Fort Lauderdale, Fla.—When a naked man in southwestern Florida recently raised a ruckus outside his house and threatened a deputy with a kitchen knife, the SWAT team swooped in and apprehended him. Soon afterward, Lee County Sheriff Carmine Marceno stood on the man's driveway in combat gear for a news conference while the suspect went to the jailhouse that the sheriff likes to call the "Marceno Motel." “He’s an oxygen-stealer and a *******, and I’m glad he’s outta here,” Marceno told reporters. “I’m proud to say that in this county, if you present deadly physical force... we meet you with deadly force every time, and we win.
Birx: ‘Vaccines Were Not Going to Protect
Against Infection’ — ‘We Overplayed
the Vaccines’
24 replies
Posted by Ribicon 7/23/2022 12:34:52 PM Post Reply
Former White House COVID response coordinator Dr. Deborah Birx told FNC “Your World” host Neil Cavuto that she was urging the vulnerable amid the current COVID-19 wave to take Paxlovid, an anti-viral medication as a means to protect against the virus. However, she also acknowledged the vaccines were not as effective as many were led to believe and admitted health officials overplayed it.(Snip)I knew these vaccines were not going to protect against infection. And I think we overplayed the vaccines. And it made people then worry that it’s not going to protect against severe disease and hospitalization. It will, but let’s be very clear
Sheriff suggests residents tell ATF agents
conducting warrantless, surprise gun inspections
to leave
10 replies
Posted by Ribicon 7/23/2022 12:13:08 PM Post Reply
A Washington State sheriff Friday advised residents in his county that if agents from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) come to their homes without a search warrant asking to inspect their firearms, they can tell them to leave their property. Klickitat County Sheriff Bob Songer, in a press statement, said that agents are “making surprise home visits of persons who have purchased two or more firearms at one time.(Snip)Congress should investigate this immediately.” The ATF defended itself in a statement to The Washington Times, saying the agents’ actions were “entirely appropriate.” “Ask the agents to show you their search warrant to inspect your firearms.
Profits of the pandemic: Moderna gives
Boston's property market a shot in the
arm after executives splashed out millions
on luxury homes near pharma giant's HQ
after COVID vaccine sent profits soaring
7 replies
Posted by Ribicon 7/23/2022 10:11:24 AM Post Reply
As Moderna's profits soared during the Covid-19 pandemic, their executives and even their employees have been reaping the benefits in the form of pricey real estate close to the company's headquarters in the Boston-area. According to a new feature in the Wall Street Journal, one unnamed Moderna executive put in an offer to buy a unit on the 17th floor of the St. Regis building overlooking Boston's harbor for $4.9 million on the same day a Pfizer exec bought a condo in the same building on the 16th floor for $4.8 million.(Snip)Other executives have snapped up multi-million dollar homes in Boston's most desirable neighborhoods,
Well that backfired! Indian minister,
48, drinks dirty water from 'holy' river
polluted with sewage to show locals it's
safe... before he's rushed to hospital
after falling ill
20 replies
Posted by Ribicon 7/23/2022 9:53:41 AM Post Reply
An Indian minister who drank a glass of dirty water from a 'holy' river to prove to locals it's safe has been hospitalised after falling ill. Bhagwant Mann, Chief Minister of Punjab, was airlifted to New Delhi after downing the polluted water from the Kali Bein. Video showing Mann scooping up a glass of water and downing the filthy liquid has since gone viral. A couple of days after drinking the water, Mann started to complain of a stomach ache. He was taken to the Apollo Indraprastha Hospital in Sarita Vihar and was admitted overnight. Medics said Mann had developed an infection and was treated by a multi-disciplinary team.
Teen charged with killing pastor was on
probation at time of arrest
8 replies
Posted by Ribicon 7/23/2022 9:49:19 AM Post Reply
A 15-year-old charged with first-degree murder in the death of the Rev. Autura Eason-Williams in Whitehaven was on probation at the time of the incident and his arrest. The teen, who prosecutors said they want to charge as an adult, has previously faced three counts of carjacking and three weapons charges in juvenile court, a Shelby County Juvenile Court spokesman said Friday. In November 2021, he was charged with unlawful possession of a weapon as a misdemeanor. In December 2021, he was charged with three counts of carjacking, and three counts of possession/employment of a firearm during the commission of a felony.  CORRECTION*
Army to shift $1 billion to recruiting,
retention efforts; rely more on reserves
as ranks shrink
32 replies
Posted by Ribicon 7/23/2022 9:25:33 AM Post Reply
The Army will shift about $1 billion to recruiting programs and will rely more heavily on reserve units as its ranks dwindle and the service struggles to attract new soldiers, Army officials said in a memo this week that described a high-stakes “war for talent” that confronts America’s armed forces and comes at a crucial moment for national security. Faced with demographic shifts and a red-hot civilian job market, Army officials said the number of active-duty soldiers is expected to drop considerably over the next several years.(Snip)Recruitment officials for the Air Force, Navy and Marines say they are facing similar challenges.
Biden administration preps Taiwan for
Chinese attack after Ukraine invasion
10 replies
Posted by Ribicon 7/23/2022 9:17:42 AM Post Reply
The Biden administration is planning to bolster U.S. arms production to sustain the war in Ukraine and to support Taiwan in preparing to fend off a future Russian-style invasion from China, White House National Security Adviser Jake Sullivan said Friday. Mr. Sullivan also said the administration is urging Taiwan’s political and military leaders to purchase arms better suited to fighting the Chinese military if it were to launch an invasion of the democratically ruled island. Due to the need to produce more weapons faster, the Pentagon is working on ways to increase the capacity of the American defense industrial base, as well as allied defense industries,
Most Active Articles (last 48 hours)
Elena Kagan Claims 'Legitimacy' of Supreme
Court Is at Risk When It Strays From Public Opinion
51 replies
Posted by Dreadnought 7/22/2022 10:29:25 PM Post Reply
Welp, here we go again — with more ignorance of the role of the United States Supreme Court in the aftermath of the Roe overturn. Only this time, the idiocy comes from within SCOTUS, courtesy of Elena Kagan, who on Thursday claimed the legitimacy of the Court is tied to its conformity with public opinion. Roll that over in your mind a couple of times. Silly me. All this time, I thought the Supreme Court’s role was that of final arbiter of the law, thus ensuring the American people with the promise of equal justice under the law and, thereby, as guardian of the Constitution
Trump would 'fire tens of thousands of
civil servants' and 'gut the government'
to sort his agenda if he runs and wins
in 2024
51 replies
Posted by Ribicon 7/22/2022 11:34:23 AM Post Reply
Donald Trump has plans to purge the so-called 'deep state' beyond what any president has done before if he runs for and wins the presidency in 2024 and as many as 50,000 government workers could find themselves on the chopping block. The former president, if elected again, would move in with a plan being drawn up now to 'drain the swamp' and cut tens of thousands of civil servants from what are typically apolitical roles, according to an Axios report.(Snip)The Trump official who came up with the Schedule F order said it could apply to as many as 50,000 of the some-two million federal workers.
Kinzinger: Children of Trump Supporters
Will Be 'Ashamed' of Parents
39 replies
Posted by Dreadnought 7/23/2022 12:45:30 AM Post Reply
Representative Adam Kinzinger (R-IL) said Friday on CNN’s “Newsroom” that the children of Republicans who supported former President Donald Trump will be ashamed. Kinzinger said, “I’ve had a lot of anecdotal people call and say like a good friend said my dad was a super MAGA, he hated Adam and loved Donald Trump. He’s all in against Donald Trump because he believes he’s been lied to. But look, yeah, there may be a certain set of voters that will never pay attention. Their kids will.” He added, “I’m going to tell you, I truly believe in my heart in five years, maybe not five but definitely
NYC Mayor Eric Adams shares plan to house
3,000 illegal immigrants in HOTELS after
they overwhelmed homeless shelters: Demands
taxpayer cash from Biden to help
38 replies
Posted by Imright 7/22/2022 12:01:56 AM Post Reply
NYC Mayor Eric Adams mooted housing 3,000 illegal immigrants who've overwhelmed homeless shelters in hotels - and said he wants taxpayer cash from Joe Biden to do so. During a press conference on Thursday, Adams told a room of reporters that in order to house those who cross the border illegally: 'If we have to get hotel rooms, we get hotel rooms.' Adams also said 'our team has been in constant contact with the White House' and added that he wants the federal government to release funds in order 'to deal with this unprecedented surge' of migrants. According to reports, the city is struggling to cope
LGBT activists demand resources for monkeypox,
don’t want officials to stigmatize gay communities
37 replies
Posted by Ribicon 7/22/2022 8:18:28 PM Post Reply
The Biden administration and local leaders are walking a fine line as they play catchup with the surging monkeypox, scrambling to get vaccines and tests to an LBGTQ community that is losing patience while combatting the idea this is a sexually transmitted disease for gay men.(Snip)“We, at the Los Angeles LGBT Center, are fearful that the government’s history of not taking the necessary action to protect the LGBT community when facing a public health threat is repeating itself with the current monkeypox response,” Joe Hollendoner, CEO of the center, said recently in an open letter to Rochelle Walensky, the director of the Centers for Disease Control and Prevention.
Vulnerable House Democrat says she ‘might
have to school’ rural Trump voters to
win their support
37 replies
Posted by ladydawgfan 7/22/2022 2:26:24 AM Post Reply
A Pennsylvania Democrat facing one of the toughest races in the midterm elections said she "might have to school" rural Trump voters in order to win their support. Rep. Susan Wild, D-Pa., is running for reelection in Pennsylvania's redrawn 7th congressional district, which now includes Republican-friendly Carbon County. During a virtual meet & greet on Monday, Wild said the Republican voters of Carbon County may need to be educated on the error of their ways. "Carbon County has many attributes, but it is a county that – although it was once an Obama county – it since has become a Trump county," she said.
Army to shift $1 billion to recruiting,
retention efforts; rely more on reserves
as ranks shrink
32 replies
Posted by Ribicon 7/23/2022 9:25:33 AM Post Reply
The Army will shift about $1 billion to recruiting programs and will rely more heavily on reserve units as its ranks dwindle and the service struggles to attract new soldiers, Army officials said in a memo this week that described a high-stakes “war for talent” that confronts America’s armed forces and comes at a crucial moment for national security. Faced with demographic shifts and a red-hot civilian job market, Army officials said the number of active-duty soldiers is expected to drop considerably over the next several years.(Snip)Recruitment officials for the Air Force, Navy and Marines say they are facing similar challenges.
Jury finds Bannon guilty on both contempt
of Congress charges
32 replies
Posted by Beardo 7/22/2022 3:10:36 PM Post Reply
A jury in a federal court in Washington, D.C., on Friday found former Trump White House adviser Steve Bannon guilty on both counts in his contempt of Congress trial. The 12-member jury found him guilty on both counts of contempt for failing to comply with two subpoenas issued by the Democrat-led House committee investigation the Jan. 6, 2021 Capitol riot. Sentencing is set for Oct. 21. Each count carries a minimum of 30 days of jail and as long as a year behind bars, according to the Associated Press.
NY Times columnist admits he was 'wrong'
about Trump's supporters, says Russian
collusion story was a 'hoax'
31 replies
Posted by Dreadnought 7/22/2022 10:41:26 PM Post Reply
The New York Times published a series of op-eds by its opinion columnists Thursday that began with the phrase "I Was Wrong About." As part of the collection, Bret Stephens admitted he was wrong to label Trump supporters "appalling." Stephens said, "The worst line I ever wrote as a pundit" was the first he ever wrote about Trump: "If by now you don’t find Donald Trump appalling, you’re appalling." "This opening salvo, from August 2015, was the first in what would become dozens of columns denouncing Trump as a unique threat to American life, democratic ideals and the world itself," he continued. Stephens said he "regret[s] almost nothing
NC town’s entire police force quits
in protest over progressive town manager
31 replies
Posted by Ribicon 7/22/2022 7:18:07 PM Post Reply
An entire North Carolina police force has quit in protest at the town’s newly hired “progressively responsible” town manager — who the police chief said created a “hostile work environment.” Kenly Police Chief Josh Gibson made the shocking announcement in a Facebook post on Thursday, saying the assistant town manager and a key clerk had joined him and his five officers in quitting in protest. “I have put in my 2 weeks notice along with the whole police dept.,” he wrote of the force he has served with for 21 years. “The new manager has created an environment I do not feel we can perform our duties and services to the community
UN health agency chief declares monkeypox
a global emergency
29 replies
Posted by Dreadnought 7/23/2022 10:57:10 AM Post Reply
The chief of the World Health Organization said the expanding monkeypox outbreak in more than 70 countries is an “extraordinary” situation that now qualifies as a global emergency, a declaration Saturday that could spur further investment in treating the once-rare disease and worsen the scramble for scarce vaccines. WHO Director-General Tedros Adhanom Ghebreyesus made the decision to issue the declaration despite a lack of consensus among experts serving on the U.N. health agency’s emergency committee. It was the first time the chief of the U.N. health agency has taken such an action. “We have an outbreak that has spread around the world rapidly through new modes of transmission
Biden administration to send $270 million
in security aid to Ukraine
29 replies
Posted by Ribicon 7/22/2022 10:16:59 PM Post Reply
The Biden administration on Friday announced a new $270 million security assistance package for Ukraine, which includes High Mobility Artillery Rocket Systems and 36,000 rounds of ammunition. John Kirby, the White House’s national security spokesperson, said the aid is the 16th drawdown of equipment under President Biden’s drawdown authority, which allows him to send allies weapons from the Pentagon’s stockpile. It is the second security assistance package Mr. Biden has approved this month. In early July, the administration announced a $400 million security aid package for Ukraine. Mr. Kirby said the U.S. will continue to aid Ukraine as it fights to fend off Russian invaders. “We will have more packages
Post New Article