| | | More joe results : Home Sales Drop 4.1 Percent in Feb, Fourth Straight Month of Declines
March 31, 2022 | Sundance | 52 Comments
As workers and middle class Americans continue to be squeezed by Joe Biden inflation, the inability of wages to cover housing costs continues to create a burden in the housing market.
 Investment groups are purchasing hard asset real estate, which continues to keep upward pressure on home values. However, ordinary Americans are no longer able to afford upgrade or starter home purchases.
Potential homeowners are forced to continue renting as prices for everything including food, gasoline and energy costs skyrocket. Scraping by is JoeBamanomics in action.
( CNBC) – In a grim sign for the housing market’s busiest season, pending home sales, which measure signed contracts on existing homes, fell 4.1% in February compared with January, according to the National Association of Realtors.
Sales were down 5.4% compared with February 2021. Analysts were expecting a slight gain. This is the fourth straight month of declines in pending sales, which are an indicator of future closings, one to two months out.
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