WASHINGTON– Sales of used homes fell again in September in the United States and it has been almost three years of sustainable and unsustainable decline for those who want to buy a property. This is part of the disastrous legacy left by the government of Joe Biden and Kamala Harris.
For its part, the National Federation of Realtors (NAR) continues to ride on unusual optimism after the collapse in sales is unprecedented in the country’s history.
The entity indicates that many buyers are hesitant before the presidential election on November 5, but the reality is that this sales crisis has been going on for almost three years and the pretext of the elections is quite superfluous.
Between 2018 and 2019, under the government of President Donald Trump, home sales approached 6 million, today it barely reaches 4 million in projection; a figure that at the end of 2024 may be much lower.
To get an idea of the real estate crisis in the US, in 2019, under Donald Trump’s government, 90% of Americans could buy a home.
After almost four years of the Biden-Harris administration, in 89% of the country’s counties the price exceeds what a buyer can pay by $70,000; That is to say, for the vast majority of Americans it is almost impossible to acquire a home right now.
This is the legacy that Joe Biden and Kamala Harris leave to the American people.
The disastrous legacy of the Biden-Harris government
In September, 3.84 million homes changed hands in the annual projection (sales projected within 12 months of continuing conditions at the time of measurement), according to NAR data.
The figure represents a drop of 2% compared to August, and 3.5% compared to September 2023.
“Some consumers may be hesitant to make a major expense like purchasing a home before the next election,” said Lawrence Yun, NAR’s chief economist.
Yun’s assertion is quite far from the crisis situation that has engulfed this sector of the economy for more than 30 months without stopping.
The situation of financial crisis for Americans It has forced them to think about survival and not about buying a home for their stability and comfort, a reality totally opposite to four years before, even in 2020 when the worst pandemic in the last 100 years occurred.
Frustration is increasing
Already in August the resale of housing It had fallen 4.2% compared to July, another month of similar decline, which reveals the same downward trend that has been maintained invariably for almost three years.
With “wage growth outpacing home appreciation, access will improve,” the Association of Realtors says.
This triumphalist vision of some analysts aligned with the White House has the majority of Americans on tenterhooks who are convinced that nothing will improve for the moment, quite the opposite. The predictions of the most experienced and honest experts indicate that the situation will continue or worsen if a new government does not arrive at the White House.
For now, the policies of Biden and Harris have been a colossal failure on all fronts, from the immigration chaos, the withdrawal from Afghanistan, the great inflation for four years, excessive federal spending, wars, constant royalties to governments and international entities, the gigantic US debt almost at 36 trillion dollars, the banking crisis, the record fiscal and commercial deficit figures, the mortgage crisis, the contraction of the US industry for more than two years until the sharpened political division in Congress in Washington.
It is hoped that none of the above will be forgotten by the majority of voters in these presidential elections.
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