Bidenomics has hit another ugly milestone.
In 2021, for the first time ever (per Census data analyzed by Zillow), the annual dollar growth in the value of a typical home was bigger than the inflation-adjusted median pre-tax income of a full-time American worker.
The average home grew in value by nearly $53,000; the median worker earned around $50,000.
That’s right: The typical homeowner earned more by doing nothing than the median worker earned by, well, working. Overall, US homeowners with mortgages gained an eye-popping $3.2 trillion in equity.
And the trends are even worse: Zillow clocked the increase at almost 20% year on year. The median listing price rose to an all-time high in February as inventory levels were down to less than half of what they were pre-pandemic.
It’s not the homeowners’ fault, obviously, except insofar as they support politicians who make it harder to build new housing.
Time to IMPEACH !!!!!!