The most consistent component of the quintessential ‘American Dream’ is undoubtedly the goal of homeownership. Ensure your kids have better opportunities than you did; work hard and save for a happy retirement; and buy a modest home with a white picket fence with the mortgage being paid off by the time you hit your golden years. It’s an idea as American as apple pie.
But the disastrous economic policies of our pathetic president are turning that dream into a nightmare for thousands of Americans, and that number is only going to grow.
According to a report by analytics company Black Knight assessing the health of the home mortgage market, there was a seven-fold increase in home foreclosures in January compared to December, with that total number jumping to approximately 33,000 in the first month of the year. In other words, there are seven times more Americans in just one month who are now facing the prospect of having their American dream shattered.
Maybe February was better, you say? That doesn’t appear to be the case. According to a separate report by ATTOM Data, foreclosures in February more than doubled over January’s number, with a 139% increase. ATTOM also notes that actual repossessions of homes increased by 70% in February.
For each one of these foreclosures, there are real Americans in financial distress. Middle-aged parents sitting at their kitchen table, going over the numbers again and again trying to figure out a way to stave off the creditors. Or perhaps a 55-year-old restaurant worker who was sitting pretty two years ago but is now facing a financial abyss thanks to draconian COVID lockdowns and skyrocketing inflation. For them, these numbers aren’t just statistics, they are a heart-wrenching reality.
With this surge in mortgage defaults, which is much more devastating for an individual than an increase in vegetable prices, we must ask ourselves: Why isn’t this situation getting any mainstream media attention?
We hear about the shattering impact of gas prices every day, as the administration and the media try to spin the problem as Vladimir Putin’s fault. For months we were lectured about the hardships impacting the health care industry caused by inconsiderate ignoramuses who refused an experimental vaccine. But have we heard anyone in the media talking about this financial obliteration facing thousands of fellow Americans?
Imagine if there was a 700% increase in anti-transgender hate crimes, would that problem get some media attention? Or picture the media’s reaction if there was a seven-fold jump in the number of minorities arrested by police for even minor crimes. Those stories would be covered nonstop for weeks.