Neglecting Our Own. Why?

On Friday, The U.K. Daily Mail posted an article about a taxpayer-funded scheme that grants benefits to illegal aliens but not to American citizens.

The article reports:

Oregonians have reacted angrily to a taxpayer-funded scheme that doles out $30,000 for non-legal migrants to buy homes, but excludes US citizens.

Hacienda Community Development Corporation, a Latino-led group in Portland, says in a promotion that it will give first-time home buyers up to $30,000 to get on the property ladder.

The scheme is ‘only for people who are not American citizens.’

It is instead open to refugees, asylum seekers, Green Card holders, and those who arrived in the US illegally as children, the post says.

It should be noted that Oregon has a Democratic trifecta and a Democratic triplex. The Democratic Party controls the offices of governor, secretary of state, attorney general, and both chambers of the state legislature. So the Democrats have seen the value of home ownership. It’s a shame that they are not willing to share that value with American citizens. At the same time the Democrats in Oregon are offering money to illegal aliens, their party on the national level is discussing a tax on ‘unrealized capital gains’ which if applied to homes would force most Americans to sell their homes. Since home ownership is one source of generational wealth, the contrast between how the illegal aliens are being treated and the potential for taxing Americans into poverty is interesting.

The article concludes:

Since October 2021, over 10 million migrants have crossed into the US, according to federal statistics — straining the federal agencies that handle migrants and bringing border communities, like El Paso, Texas, to its knees.

Since January, the Mexican government has stepped up efforts to stop mostly South and Central American migrants traveling through its country on their way to the US.

Pressured by the Biden Administration, Mexican officials have set up checkpoints to find migrants on northbound buses and trains and return them to the Mexico-Guatemala international boundary.

In June, the White House announced changes how migrants could seek asylum at the border.

Any migrant who did not legally enter the US would be removed and not allowed to seek asylum.

It’s an election year. Expect to see at least cosmetic changes to the current border policy.

What Does This Mean For America’s Future?

The Washington Examiner reported today that the rate of homeownership in America has declined steadily since 2006.

The article includes the following graph:

HomeownershipThe article explains:

The only age group that saw a rising homeownership rate over the past year was 35-44-year-olds, with younger and older people turning more to renting.

So let’s take a look at this from a broader perspective. Part of the decline is due to the housing bubble. However, we need to look at the impact of homeownership on our society and how the decline in homeownership will impact us in the future.

Homeowners are invested in their houses and in their neighborhoods. Generally speaking they take pride in both and will endeavor to keep both their homes and neighborhoods clean and crime-free. Under most circumstances, a home will increase in value, providing a basic investment for people who may not be able to invest in other assets. The increase in renters means an increase in landlords, people who own the rental property. It seems to me that the increase in landlords and renters is an indication that the middle class is being squeezed out economically. I understand that in many parts of the country housing is extremely expensive, but there are also areas of the country where jobs are available and housing is reasonably priced. I fear that the decrease in homeownership represents a moving away from the idea of owning something, taking care of something, and having an asset in the future. It may be a reflection of our instant gratification society rather than an economic indicator. It also may be a reflection of the American culture versus the culture of the large number of immigrants currently coming to America from different countries. Private property rights are one of the backbones of our freedoms–other countries may not have those rights. In order to keep our middle class strong economically and help keep our neighborhoods crime-free, we need to encourage all Americans, whether they were born here or just arrived from another country, to own homes and take care of them.

A Picture Is Worth A Thousand Words

Zero Hedge has posted nine charts that clearly show what President Obama’s economic policies have done to the American economy and those of us who try to exist in it.

Here are the charts:

EconomicCharts2015

If you follow the link above to the site, you can make the charts larger. It really is not a pretty picture.