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BIDEN IS MAKING IT HARDER TO BUY HOMES — JUST TO PLEASE GREEN RADICALS AND WALL
STREET
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Social Links for Marco Rubio
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Published May 10, 2024, 5:56 p.m. ET
Biden has denied involvement in Trump's trial. REUTERS
The Department of Housing and Urban Development exists to boost affordable
housing for Americans, yet under President Biden, HUD is issuing a new
“energy-saving” rule that will instead increase the cost of building homes for
federally assisted buyers, despite already sky-high prices and a nationwide
housing shortage.
That HUD enacted this rule to celebrate “Earth Week” last month reveals the
reason for this absurdity: Once again, the Biden administration is putting
environmentalist lip service over real human beings.
You wouldn’t know this from the legacy media.
Pundits, like the Biden administration itself, are spinning the rule as a
cost-saving measure.
Bloomberg, for instance, claims new homes built under HUD’s rule will be more
efficient and so save their occupants more than $900 per year in energy bills.
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But these outlets are downplaying the fact that the rule also raises the price
of construction by up to $31,000 per home.
With today’s interest rates, it could take a buyer as many as 90 years to break
even on that through energy savings.
Young families looking to purchase starter homes with Federal Housing Agency
mortgages will bear the brunt of this impact.
Millions of them are already struggling to save amid runaway inflation; they
can’t afford tens of thousands of dollars in additional upfront costs,
especially when the resultant savings won’t materialize for close to a century.
In short, HUD’s new rule is a bad deal for ordinary people, which is why I tried
to block it last year.
Democrats, unfortunately, united to oppose me.
HUD’s new rule also does nothing to address the greatest problem facing
homebuyers across the board: our nationwide housing shortage.
The shortfall is somewhere between 4 million and 7 million units, and most of
the units that are available are too expensive.
Half of America’s renters say they can’t afford rent, and an incredible 78% of
would-be homeowners say they can’t afford to buy.
We have to put a dent in this problem if we want the American Dream to survive.
Common sense and basic economics tell us an important part of the solution is
increasing the housing supply.
This means removing core obstacles to development — including antiquated
permitting processes, skilled labor shortages, supply-chain shocks and, yes,
overly stringent environmental regulations.
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HUD’s new rule, by contrast, limits development by making construction more
expensive.
Why is the Biden administration forcing this burdensome rule through when, as
the National Association of Home Builders points out, it “runs completely
counter” to the administration’s own objective of “building an additional 2
million homes”?
Simply put, the president and his Cabinet are beholden to Wall Street-based
interest groups and environmentalist activists.
HUD claims it’s advancing energy efficiency on behalf of “vulnerable
communities,” but it’s really throwing a bone to multinational hedge funds
invested in the “green transition” — as well as the fanatics who vandalized the
Constitution’s display case at the National Archives Museum to “draw attention
to climate change.”
These fanatics are at odds with normal families and their desire to live the
American Dream.
Their ideology sees modern civilization as a cancer on the Earth and explicitly
opposes new human life.
As one so-called bioethicist puts it: “Having a child imposes high emissions on
the world, while the parents get the benefit. So like with any high-cost luxury,
we should limit our indulgence.”
Putting aside the deep perversity of comparing human beings to consumer goods,
this line of thinking is at least consistent.
The higher the cost of housing becomes, the more young people will decide
against having children.
As one exhausted renter recently told CNN, making do has become so expensive
that “having kids will never be on the table.”
It aligns perfectly with nearly every other aspect of the anti-human
environmentalists’ sick agenda.
The United States, however, is not a sandbox for ideological fanatics.
124
What do you think? Post a comment.
Our system is meant to be “of the people, by the people, for the people,” not
“of the people, by the people, for the planet.”
There’s nothing wrong, of course, with wanting to increase energy efficiency.
But when our leaders prioritize meeting arbitrary environmental benchmarks over
solving our nation’s housing crisis and making life more affordable for normal
families, you know they’re neglecting their duty.
Marco Rubio (R) is a US senator from Florida.
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Filed under
* affordable housing
* department of housing and urban development
* environment
* federal housing finance agency
* Green New Deal
* hedge funds
* housing
* hud
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* 5/10/24
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