Trump Colludes with the Banking Industry Again
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Op-ed by TheWiseOldFart
50-year mortgages? Would you be willing to pay three times
the cost of a new home and never live to see the loan marked “paid in full?”
The American Dream has become just that: a dream. According
to most leading economists, generation “X” and those who follow, will never
have careers with an income which allows them to purchase a single-family home.
In my area of the United States, Northern Nevada, new homes
are under construction. However, the focus is clearly on building large
apartment buildings. The average rent on a one-bedroom apartment in Reno, NV,
ranges from about $1,350 to over $1,800 per month. The consensus is that the
average salary in Reno is 35-36 thousand dollars per year.
I am not a math wizard, but it appears that rental rates on
a one-bedroom apartment in Reno are likely to be more than one-half of one
month’s wages. The average price of a single-family home is between $545,000
and $578,000. Monthly payments range between $3,200, and $3,900.
It appears that something is wrong with this picture. These
numbers prove that it is too expensive to live in America, even in a small town
or city.
The largest monthly expense for our nation’s people, after
paying rent, or a monthly mortgage payment, is necessities: food and utilities.
Everyone knows, or should be aware, that promises made by
professional politicians are nothing but “hot air.” They never keep them, and
anyone foolish enough to believe otherwise is a victim of another con from a
professional con man.
Trump promised to “end inflation/Greedflation on day one.”
His ill-advised tariffs are beginning to take effect, causing more grief for
the average consumer.
My wife and I have a single source of income: Social
Security. Since January, 2025, the bill from our grocery store has increased by
10-20 percent. Beginning in January, our monthly checks will be increased by
2.8 percent. The total increase in our food bills over the last two years is
now 70-75 percent. In simple and honest words, we are fucked.
Our gas and electricity provider recently informed us of a
coming increase, again.
By design, our federal government’s only purpose is to care
for the needs and wishes of all 340 million Americans. However, their
priorities are first, themselves, and second, the profits of the super-rich.
Trump knows nothing about economics, and clearly failed
every mathematics class he was forced to attend. The interest on a 30-year home
lone can be frightening. A 50-year loan would double or triple that figure, depending
on the percentage.
We, the people, cannot afford the old, obese man defiling
our White House. He has never found it necessary to balance a check book or
live on a budget. For the average American, he is not only worthless, he is a
danger to our survival.
Op-ed by James Turnage
Follow my blog and be informed
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