Vice President Kamala Harris recently provoked controversy by implying that “climate anxiety” is the reason why young people are reluctant to invest in homeownership. Experts and detractors, however, argue that this tendency is mostly driven by economic motives rather than concerns about climate change.
In a recent interview, Harris blamed young people’s fears about climate change for their hesitation to purchase homes, according to a Pennsylvania TV station. She contended that these “young leaders” worry about getting married and starting a family because they think bad weather will ruin their financial plans.
Although many young people undoubtedly have serious concerns about climate change, some contend that Harris’s theory oversimplifies the complex factors underlying the fall in property purchases among this group. In contrast to the Vice President’s assertion, a number of reports suggest that many young individuals want to own a property.
Rather, the obvious problem of sharply rising inflation rates during the Biden administration is cited by experts as a stronger argument against young people purchasing homes. With interest rates on 30-year fixed-rate house loans rising to a startling 7.09 percent, mortgage rates have hit all-time highs. For many Americans, becoming a homeowner is now less possible due to the abrupt increase in mortgage rates.
The National Association of property Builders’ Chief Economist, Robert Dietz, highlights that a number of potential purchasers have been effectively priced out of the housing market due to the combination of rising property prices and increased mortgage rates. It is extremely difficult for young people, especially those who do not have access to significant family financial support, to save up down payments on homes.
In addition, the cost of housing has increased to almost all-time highs; this, together with mortgage rates that are surging, has resulted in the lowest number of mortgage applications in 27 years.
The “climate anxiety” argument’s detractors argue that economic factors—like inflation and skyrocketing property prices—have a much greater impact on discouraging young people from pursuing homeownership. They emphasize that the state of the economy, especially the effects of stimulus plans, is a major factor in the way that housing is currently structured.
Although experts acknowledge that young people have legitimate concerns about climate change, they also emphasize that when examining patterns in homeownership, it is important to take both climate anxiety and economic issues into account. They contend that in addition to tackling climate-related issues, governments should concentrate on reducing obstacles to homeownership and relieving economic difficulties.
Democrats consider BLATANT LYING/GASLIGHTING to be a virtue… and it easily fools other dufus Democrats…
Seriously?
You are supporter of Trump , who is a criminal that has lied about EVERYTHING in his life. You have NO right to call anybody a liar….and much less rights to call anybody a fool or a dufus
Been a homeowner in Miami, I understand the anxiety, BUT she is not quite right
The big problems with young people not buying homes are crappy incomes, ridiculous prices for homes and high fees for HOA maintenance…while at the same time paying property taxes (if HOA takes care of the maintenance of streets and other things that are usually done by cities and counties, why are those homeowners not given a tax break)
Also it is hard to consider buying a home with just one income. Young people are avoiding marriage and that is problem.
Wow she is even dumber than I thought what an stupid thing to say and she is next in line to the senile pervert
The “Senile pervert” has not been found guilty of sexual abuse and forced to pay damages or paid any money to keep an affair with a porn star secret (affair that Trump had when his wife was pregnant with his child).
It never ceases to amazed me how foolish and obtuse can right wingers can be when it comes to facing facts and reality
Yeah Biden showered with his daughter and is constantly sniffing little girls hair and was accused of sexual assault so go spew your liberal crap somewhere else. Even CNN says he’s constantly lying when he tells his ridiculous stories. If you think he is mentally fit your TDS is blinding you or your as senile as he is
Germansmith, No He was not guilty of rape. that tramp was awarded money for Slander. Proof that there is a two-tier system. She Slander Trump and She was paid by a Crooked Judge. You are probably just as Guilty as Trump.