US home sales decline to lowest in 30 years as Americans cite economic ‘suffering’
Sales for 2023 came in at 4.09 million homes for the year, the lowest level since 1995. Median home prices for 2023 rose to $389,800, a new record, demonstrating the effect of investors in the market.
On another measure of economic security, Gallup found a record high number of Americans responding that they were “suffering” in their annual Health and Well-Being survey. The polling organization found a greater percentage of Americans describing their status as “suffering” than during 2008’s Great Recession, continuing a trend from 2022.
Meanwhile China has made efforts to stabilize housing prices with President Xi Jinping remarking that “houses are built to be inhabited, not for speculation,” but the maxim is unlikely to gain support from either major US political party given the power of the banking sector in the strongly capitalist country.
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THE COST OF THE AMERICAN DREAM HAS EXPLODED.
Owning a home.
Buying groceries.
Driving to work.
Paying insurance.
Even your morning coffee.
Nearly every major household expense costs dramatically more than it did just a few years ago.
Over the last 7 years:
• Coffee: +127%
• Home prices: +60%
• Auto insurance: +51%
• Gasoline: +49%
• Electricity: +44%
• Shelter: +35%
• Groceries: +33%
And that's before paying for healthcare, transportation, or eating out.
This is why so many families feel like they're falling behind even when they get a raise.
The biggest financial problem for millions of Americans is that everything is going up at the same time, while the government keeps showing a 2% inflation target.
🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶
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