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***Official Political Discussion Thread***
- Thread in 'General' Thread starter Started by rico x hood,
- Start date
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Bingo. Gives Biden a way to graciously bow out but also inspires confidence all around that the Dem party is working together to continue on the success and beat Trump. These folks need media training and new PR folks. Would be a great opportunity for Obama and Clinton (either one) publicly speak about offering their own advisory services, even if it’s just for show.
It reminds of the show designated survivor. When the main character was running for reelection, he chose a former president as his VP to inspire confidence.
All that’s to say, doesn’t sound like many people other Biden are thinking past the next days media headlines.
Oh ok, I’m picking up what you’re putting down.
Yeah the optics with Biden are horrible besides being senile there’s plenty of other things he’s hated for.
frenchbreadbuilds
Then they shouldn’t be making it worse whether they’re going to keep him on the ticket or not. They have to run off his accomplishments. And they won’t be able to do that if the only headlines folks see is “another Democrat calls for Biden to step down”. Biden’s optics isn’t the only optics that matter here.
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Dems sure know how to screw something up. Should’ve all gotten on the same page a week ago and pushed Biden to step down or just shut up and say “everything is fine”.
This slow drip of news makes it seem like they’re a bunch of idiots with no plan.
This slow drip of news makes it seem like they’re a bunch of idiots with no plan.
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Exactly.
And don't forget. Nothing, absolutely nothing guarantees that the favorable polls we see today won't dip when the switch happens.
atlsfinest
if it were up to me, nothing would be done right now, except putting more of the spotlight on Kamala. Both candidates AND their VPs AND their administrations are known quantities. If fear is the driver for hesitancy towards Biden, assuage it by highlighting, at every single opportunity, the fact that the founders had an answer for an incapacitated POTUS. Challenge the electorate and their faith in this system. Is it a gamble? Definitely. But I think it's a better gamble than switching the ticket long after the primaries, and a few months before the election, especially if the plan is to maintain 1/2 of the original ticket.
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Housing market is screwed because of private equity, we also see that impact with sports teams
44% of flipped single-family home purchases were by private investors in 2023
Private equity firms have been carving out an increasingly substantial share of single-family home purchases, raising concern about the potential consequences for housing affordability and market competitiveness.
www.washingtontimes.com
Nike Jordan
Supporter
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Are we going to get think pieces on whether Trump drops out now?
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Housing market is screwed because of private equity, we also see that impact with sports teams
44% of flipped single-family home purchases were by private investors in 2023
Private equity firms have been carving out an increasingly substantial share of single-family home purchases, raising concern about the potential consequences for housing affordability and market competitiveness.
Yep, and let's say just 1%-5% of the renters or potential homebuyers blame Biden/Democrats for the housing issues, that's enough to change the outcome of the election.
Loading…
www.cnbc.com
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I’m sure deregulation and less government oversight will make things better
But some dummies also blame biden for roe v wade too
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And wages have outpaced inflation for the last 2 years. And currently outpacing pre pandemic levels as well. The housing market isn’t something that’s going to be fixed over night. Especially because Biden doesn’t control interest rates.
But even then, there’s a proposal for that as well.
FACT SHEET: President Biden Announces Plan to Lower Housing Costs for Working Families | The White House
Building and preserving over 2 million new homes to lower rents and the cost of buying a home President Biden believes housing costs are too high, and
- Mortgage Relief Credit. President Biden is calling on Congress to pass a mortgage relief credit that would provide middle-class first-time homebuyers with an annual tax credit of $5,000 a year for two years. This is the equivalent of reducing the mortgage rate by more than 1.5 percentage points for two years on the median home, and will help more than 3.5 million middle-class families purchase their first home over the next two years. The President’s plan also calls for a new credit to unlock inventory of affordable starter homes, while helping middle-class families move up the housing ladder and empty nesters right size. Many homeowners have lower rates on their mortgages than current rates. This “lock-in” effect makes homeowners more reluctant to sell and give up that low rate, even in circumstances where their current homes no longer fit their household needs. The President is calling on Congress to provide a one-year tax credit of up to $10,000 to middle-class families who sell their starter home, defined as homes below the area median home price in the county, to another owner-occupant. This proposal is estimated to help nearly 3 million families.
- Down Payment Assistance for First-Generation Homeowners. The President continues to call on Congress to provide up to $25,000 in down payment assistance to first-generation homebuyers whose families haven’t benefited from the generational wealth building associated with homeownership. This proposal is estimated to help 400,000 families purchase their first home.
- Lowering Closing Costs for Refinancing. The Federal Housing Finance Agency has approved policies and pilots to reduce closing costs for homeowners, including a pilot to waive the requirement for lender’s title insurance on certain refinances. This would save thousands of homeowners up to $1500, and an average of $750, and the lower upfront fees will unlock substantial savings for homeowners as mortgage rates continue to fall and more homeowners are able to refinance. According to independent analysis, across the market title insurance typically pays out only 3% to 5% of premiums in claims to consumers, compared to more than 70% in other types of insurance. Homeowners can still purchase their own title insurance policies if they choose to do so.
- Lowering Closing Costs for Home Mortgages.The Consumer Financial Protection Bureau will pursue rulemaking and guidance to address anticompetitive closing costs imposed by lenders on homebuyers and homeowners. These charges—which benefit the lender but not the borrower—can add thousands to the upfront costs of a mortgage. Those upfront costs cut into the amount of homebuyers’ down payments and reduce homeowners’ available equity.
Lowering Costs by Building and Preserving 2 Million Homes
America needs to build more housing in order to lower rental costs and increase access to homeownership. That’s why the President is calling on Congress to pass legislation to build and renovate more than 2 million homes, which would close the housing supply gap and lower housing costs for renters and homeowners. This legislation would build on executive actions in the Biden-Harris Administration’s Housing Supply Action Plan that contributed to record housing construction last year.
- Tax Credits to Build More Housing. President Biden is calling for an expansion of the Low-Income Housing Tax Credit to build or preserve 1.2 million more affordable rental units. Renters living in these properties save hundreds of dollars each month on their rent compared with renters with similar incomes who rent in the unsubsidized market. The President is also calling for a new Neighborhood Homes Tax Credit, the first tax provision to build or renovate affordable homes for homeownership, which would lead to the construction or preservation of over 400,000 starter homes in communities throughout the country.
- Innovation Fund for Housing Expansion. The President is unveiling a new $20 billion competitive grant fund as part of his Budget to support communities across the country to build more housing and lower rents and homebuying costs. This fund would support the construction of affordable multifamily rental units; incentivize local actions to remove unnecessary barriers to housing development; pilot innovative models to increase the production of affordable and workforce rental housing; and spur the construction of new starter homes for middle-class families. According to independent analysis, this will create hundreds of thousands of units which will help lower rents and housing costs.
- Increasing Banks’ Contributions Towards Building Affordable Housing. The President is proposing that each Federal Home Loan Bank double its annual contribution to the Affordable Housing Program – from 10 percent of prior year net income to 20 percent – which will raise an additional $3.79 billion for affordable housing over the next decade and assist nearly 380,000 households. These funds will support the financing, acquisition, construction, and rehabilitation of affordable rental and for-sale homes, as well as help low- and moderate-income homeowners to purchase or rehabilitate homes.
President Biden is also taking actions to lower costs and promote housing stability for renters. The White House Blueprint for a Renters Bill of Rightslays out the key principles of a fair rental market and has already catalyzed new federal actions to make those principles a reality. Today, President Biden is announcing new steps to crack down on unfair practices that are driving up rental costs:
- Fighting Rent Gouging by Corporate Landlords. The Biden-Harris Administration is taking action to combat egregious rent increases and other unfair practices that are driving up rents. Corporate landlords and private equity firms across the country have been accused of illegal information sharing, price fixing, and inflating rents. As part of the Strike Force on Unfair and Illegal Pricing announced by President Biden on Tuesday, the President is calling on federal agencies to root out and stop illegal corporate behavior that hikes prices on American families through anti-competitive, unfair, deceptive, or fraudulent business practices. In a recent filing, the Department of Justice (DOJ) made clear its position that inflated rents caused by algorithmic use of sensitive nonpublic pricing and supply information violate antitrust laws. Earlier this month, the Federal Trade Commission and DOJ filed a joint brief further arguing that it is illegal for landlords and property managers to collude on pricing to inflate rents – including when using algorithms to do so.
- Cracking Down on Rental Junk Fees. Millions of families incur burdensome costs in the rental application process and throughout the duration of their lease, from “convenience fees” simply to pay rent online to fees charged to sort mail or collect trash. These fees are often more than the actual cost of providing the service, or are added onto rents to cover services that renters assume are included—or that they don’t even want. Last fall, the FTC proposed a rule that if finalized as proposed would ban misleading and hidden fees across the economy, including in housing rental agreements. Last month, HUD released a summary of banned non-rent fees within their rental assistance programs. These actions build on voluntary commitments the President announced last summer from major rental housing platforms to provide customers with the total, upfront cost on rental properties on their platform.
- Expanding Housing Choice Vouchers. Over the last three years, the Administration has secured rental assistance for more than 100,000 additional households. The President is calling on Congress to further expand rental assistance to more than half of a million households, including by providing a voucher guarantee for low-income veterans and youth aging out of foster care – the first such voucher guarantees in history. Receiving a voucher would save these households hundreds of dollars in rent each month.
And wages have outpaced inflation for the last 2 years. And currently outpacing pre pandemic levels as well. The housing market isn’t something that’s going to be fixed over night. Especially because Biden doesn’t control interest rates.
But even then, there’s a proposal for that as well.
FACT SHEET: President Biden Announces Plan to Lower Housing Costs for Working Families | The White House
Building and preserving over 2 million new homes to lower rents and the cost of buying a home President Biden believes housing costs are too high, andwww.whitehouse.gov
The President isn’t waiting for Congress to lower costs for homebuyers and homeowners. Last year, the Department of Housing and Urban Development (HUD) reduced the mortgage insurance premium for Federal Housing Administration (FHA) mortgages, saving an estimated 850,000 homebuyers and homeowners an estimated $800 per year. And today, the President is announcing new actions to lower the closing costs associated with buying a home or refinancing a mortgage.
- Mortgage Relief Credit. President Biden is calling on Congress to pass a mortgage relief credit that would provide middle-class first-time homebuyers with an annual tax credit of $5,000 a year for two years. This is the equivalent of reducing the mortgage rate by more than 1.5 percentage points for two years on the median home, and will help more than 3.5 million middle-class families purchase their first home over the next two years. The President’s plan also calls for a new credit to unlock inventory of affordable starter homes, while helping middle-class families move up the housing ladder and empty nesters right size. Many homeowners have lower rates on their mortgages than current rates. This “lock-in” effect makes homeowners more reluctant to sell and give up that low rate, even in circumstances where their current homes no longer fit their household needs. The President is calling on Congress to provide a one-year tax credit of up to $10,000 to middle-class families who sell their starter home, defined as homes below the area median home price in the county, to another owner-occupant. This proposal is estimated to help nearly 3 million families.
- Down Payment Assistance for First-Generation Homeowners. The President continues to call on Congress to provide up to $25,000 in down payment assistance to first-generation homebuyers whose families haven’t benefited from the generational wealth building associated with homeownership. This proposal is estimated to help 400,000 families purchase their first home.
In the coming months, the Department of Treasury’s Federal Insurance Office will convene a roundtable of relevant industry stakeholders, including consumer advocates and academics, in order to discuss the title insurance industry and analyze potential reforms. Building on today’s announcements, President Biden is calling on federal agencies to take all available actions to lower costs for consumers at the closing table and help more Americans access homeownership.
- Lowering Closing Costs for Refinancing. The Federal Housing Finance Agency has approved policies and pilots to reduce closing costs for homeowners, including a pilot to waive the requirement for lender’s title insurance on certain refinances. This would save thousands of homeowners up to $1500, and an average of $750, and the lower upfront fees will unlock substantial savings for homeowners as mortgage rates continue to fall and more homeowners are able to refinance. According to independent analysis, across the market title insurance typically pays out only 3% to 5% of premiums in claims to consumers, compared to more than 70% in other types of insurance. Homeowners can still purchase their own title insurance policies if they choose to do so.
- Lowering Closing Costs for Home Mortgages.The Consumer Financial Protection Bureau will pursue rulemaking and guidance to address anticompetitive closing costs imposed by lenders on homebuyers and homeowners. These charges—which benefit the lender but not the borrower—can add thousands to the upfront costs of a mortgage. Those upfront costs cut into the amount of homebuyers’ down payments and reduce homeowners’ available equity.
Lowering Costs by Building and Preserving 2 Million Homes
America needs to build more housing in order to lower rental costs and increase access to homeownership. That’s why the President is calling on Congress to pass legislation to build and renovate more than 2 million homes, which would close the housing supply gap and lower housing costs for renters and homeowners. This legislation would build on executive actions in the Biden-Harris Administration’s Housing Supply Action Plan that contributed to record housing construction last year.
Lowering Costs for Renters
- Tax Credits to Build More Housing. President Biden is calling for an expansion of the Low-Income Housing Tax Credit to build or preserve 1.2 million more affordable rental units. Renters living in these properties save hundreds of dollars each month on their rent compared with renters with similar incomes who rent in the unsubsidized market. The President is also calling for a new Neighborhood Homes Tax Credit, the first tax provision to build or renovate affordable homes for homeownership, which would lead to the construction or preservation of over 400,000 starter homes in communities throughout the country.
- Innovation Fund for Housing Expansion. The President is unveiling a new $20 billion competitive grant fund as part of his Budget to support communities across the country to build more housing and lower rents and homebuying costs. This fund would support the construction of affordable multifamily rental units; incentivize local actions to remove unnecessary barriers to housing development; pilot innovative models to increase the production of affordable and workforce rental housing; and spur the construction of new starter homes for middle-class families. According to independent analysis, this will create hundreds of thousands of units which will help lower rents and housing costs.
- Increasing Banks’ Contributions Towards Building Affordable Housing. The President is proposing that each Federal Home Loan Bank double its annual contribution to the Affordable Housing Program – from 10 percent of prior year net income to 20 percent – which will raise an additional $3.79 billion for affordable housing over the next decade and assist nearly 380,000 households. These funds will support the financing, acquisition, construction, and rehabilitation of affordable rental and for-sale homes, as well as help low- and moderate-income homeowners to purchase or rehabilitate homes.
President Biden is also taking actions to lower costs and promote housing stability for renters. The White House Blueprint for a Renters Bill of Rightslays out the key principles of a fair rental market and has already catalyzed new federal actions to make those principles a reality. Today, President Biden is announcing new steps to crack down on unfair practices that are driving up rental costs:
- Fighting Rent Gouging by Corporate Landlords. The Biden-Harris Administration is taking action to combat egregious rent increases and other unfair practices that are driving up rents. Corporate landlords and private equity firms across the country have been accused of illegal information sharing, price fixing, and inflating rents. As part of the Strike Force on Unfair and Illegal Pricing announced by President Biden on Tuesday, the President is calling on federal agencies to root out and stop illegal corporate behavior that hikes prices on American families through anti-competitive, unfair, deceptive, or fraudulent business practices. In a recent filing, the Department of Justice (DOJ) made clear its position that inflated rents caused by algorithmic use of sensitive nonpublic pricing and supply information violate antitrust laws. Earlier this month, the Federal Trade Commission and DOJ filed a joint brief further arguing that it is illegal for landlords and property managers to collude on pricing to inflate rents – including when using algorithms to do so.
- Cracking Down on Rental Junk Fees. Millions of families incur burdensome costs in the rental application process and throughout the duration of their lease, from “convenience fees” simply to pay rent online to fees charged to sort mail or collect trash. These fees are often more than the actual cost of providing the service, or are added onto rents to cover services that renters assume are included—or that they don’t even want. Last fall, the FTC proposed a rule that if finalized as proposed would ban misleading and hidden fees across the economy, including in housing rental agreements. Last month, HUD released a summary of banned non-rent fees within their rental assistance programs. These actions build on voluntary commitments the President announced last summer from major rental housing platforms to provide customers with the total, upfront cost on rental properties on their platform.
- Expanding Housing Choice Vouchers. Over the last three years, the Administration has secured rental assistance for more than 100,000 additional households. The President is calling on Congress to further expand rental assistance to more than half of a million households, including by providing a voucher guarantee for low-income veterans and youth aging out of foster care – the first such voucher guarantees in history. Receiving a voucher would save these households hundreds of dollars in rent each month.
So here is the issue. When you say wages have outpaced inflation, for who? It really depends on the demographic of each person, their age, what industry they are employed in, etc.
Some people are falling behind who live on fixed incomes or who maybe didn't job hop for a higher salary during the past few years.
Just as an example, my mortgage payment went up $500/month just due to increases in property taxes and insurance.
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there goes his VP ambitions…. Lmao
I think it’s going to be the Governor of North Dakota…. I forget his name, but the fact he doesn’t leave a strong impression is why Trump would love him.
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The average hourly earnerings of private employees vs the consumer price index.
Have wages exceeded inflation under Joe Biden? It depends on how you slice it. - Poynter
Inflation has outpaced wages during the length of Biden’s entire presidency, but wages have outpaced inflation compared to prepandemic levels
www.poynter.org
Importantly, there is a positive trend across all measures and inflation adjustments in the last several quarters. This is around the time inflation began to slow, and changes in nominal pay have been outpacing inflation across all measures. Going forward, it will be important to pay attention to whether the trend of pay outpacing inflation continues.
Have workers gotten a raise? | Brookings
A comprehensive evaluation of real pay changes since the pandemic looks at pay measures, inflation effects, and the distributional breakdown.
www.brookings.edu
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Republicans are going to vote on that “freedom to die during child birth” right soon.
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Sounds about right from the “pro life” people that want to murder women who get abortions and oppose free lunches for kids AND fight any sort of gun restrictions
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What would you do differently Princeton educated economist?
