Let's just get this out of the way, first, and then the rest of the article will fall nicely into place.
From Kamala Harris' flip-flopping on issues like a hooked bass flopping around in a boat, to Tim Walz's serial-lying past continuing to catch up with him on a near-daily basis, the 2024 Democrat presidential ticket has reduced itself to pretty much just relying on pandering to low-information, rank-and-file, Democrat voters — useful idiots, that is.
Why? Because it's all they've got.
During Kamala's taped "interview," which of course aired on CNN on Thursday evening, Madam Vice President had the gall to tell host Dana Bash:
I'm very proud of the work that we have done that has brought inflation down.
Just one problem: As of July 25, 2024, inflation surged to its highest level in over 40 years. Despite recent moderation, consumer prices are up more than 19 percent overall, while gas is up 46 percent.
CNN: "You have been VP for three and a half years, the steps that you're talking about now, why haven't you done them already?"
— TheBlaze (@theblaze) August 30, 2024
Kamala Harris: "I'm very proud of the work that we have done that has brought inflation down." pic.twitter.com/IXDG4wWdMa
In addition, average weekly earnings haven’t kept pace with prices. After adjusting for inflation, “real” weekly earnings have dropped 2.3 percent.
It Gets Worse for Home Sellers and Buyers
We learned on Saturday that the Pending Home Sales Index (PHSI), which measures home sales based on contract signings, fell in July to the lowest reading since the index began in 2001. Yeah.
Here's more:
A gauge measuring pending home sales activity fell to the lowest level in more than two decades last month amid an environment of high mortgage rates and political uncertainty, according to the National Association of Realtors (NAR.
Pending home sales declined 5.5 percent in July, with all four U.S. regions—Northeast, Midwest, South, and West—reporting monthly losses as well, according to an Aug. 29 press release.
NAR chief economist Lawrence Yun made it clear: “A sales recovery did not occur in midsummer." NAR speculated that some prospective buyers may be waiting for mortgage rates to drop.
Fernanda Kriese, an agent with real estate brokerage firm Redfin, suggested that the presidential election and expected drop in mortgage rates are “delaying buyers; a lot of them are waiting on the sidelines until November, hoping to get a lower rate and maybe more homes to choose from.”
Also Read:
Cringeworthy Kamala Disqualifies Herself With Tone-Deaf Remarks on Economy
Trump Talks About Reviving the Economy, 'Sleepy Joe,' and IVF at Rally in Michigan
In related news, as my colleague Nick Arama reported on Wednesday, Harris proved once again that she's economically illiterate:
Even if aspiring homeowners save for years, it is often still not enough. My administration will provide first-time homebuyers with $25,000 to help with the down payment on a new home.
Memo to Kamala: If you carry through with that idiotic idea, the prices of entry-level home prices will increase by $25,000 the day after you do it.
Even if aspiring homeowners save for years, it is often still not enough.
— Kamala Harris (@KamalaHarris) August 27, 2024
My administration will provide first-time homebuyers with $25,000 to help with the down payment on a new home.
Elon Musk promptly blasted Harris with the same point I made, above.
Unless you increase the supply of new homes, this just raises the price by $25k and does nothing for affordability
— Elon Musk (@elonmusk) August 28, 2024
So, here's my thing. Is the country engulfed in a housing crisis? No. But do Kamala Harris, Tim Walz, and the entire Democrat Party continue to pretend (lie their asses off) that the Biden-Harris economy is humming along like a finely tuned Swiss watch?
Of course, they do, and the Pending Home Sales Index is just one more example of "the rest of the story" (facts and data) being at odds with Kamala Harris's "Campaign of Joy."
Brace yourselves, folks — it's going to be a long and bumpy ride until Nov. 5.
