Fernando
Elite Member
- Joined
- Nov 7, 2016
- Professional Status
- Certified Residential Appraiser
- State
- California
Some would say the government free money had put more savings into their pockets.Only an idiot would think he had anything to do with Covid - the pros (Fauci) claimed 2 weeks to flatten the curve. Fauci lied. And Biden made it worse with all the lockdown nonsense. In case, you have not noticed, the economy has been on the decline for months. Companies shutting down, closing stores, and laying people off. Manufacturing has slowed, inventories are up, and interest rates have not fell to the extreme low levels (which BTW hurt not helped the economy) of the Covid nonsense.
We may well go into another shallow recession or, if you will a continuation of the on-going weak economy (why Ferdo has a problem with paying renters closing shop). A couple years ago, I said we a very shallow but much longer recession that seemed to be working out and I was right (for once.) We've seen weak growth since the Covid crisis receded. Mortgage demand is as much down over too high prices as much as it is down over too high interest rates. These rates are not high, in fact, are about average over the past 50 years. The huge run up in real estate prices (and cars for that matter) has seen sales go sluggish since 2022.
To the point now that most savings have been depleted and people are more limited in their budget spending.
There's so much that Biden can do.