The current national debt is $33.666 trillion. The population of the United States is approximately 340 million people. If we figure 4 people per house, then 340 million people divided by 4 would be 85 million houses for everyone to own a home. 3.66 trillion divided by 85 million would be $396,070 to build or put towards a house.
The average house price is back on the rise. According to the Federal Reserve Bank of St. Louis, the median home sales price is $430,300. That’s up $14,200 from the previous quarter but down $37,700 from the previous year.
Imagine everyone having a 30 year mortgage on $35,000. That would be $273 per month for a house. Realistically, everyone who currently has a mortgage could pay it off immediately for less that $396,070. This would allow everyone else to have a mortgage free median house for free and still have money left over to refill the strategic oil reserves.
The point is that the government has stolen a median priced house from every family in the country. We now have a national debt that can never be paid off, inflation, high interest rates and the American Dream of owning your own home is now almost impossible.
Maybe China will give us some money to buy $2.75 million beach houses.
David DeGerolamo
I agree it is simple math. It is also a simple concept that when you start to clean your house you start at the top of the junk and work your way down. We need to start at the top this time.
The national debt should be called the federal debt, as it’s owed by the federal government.
not quite right
I’m convinced the American Dream of owning a home is just that, a Dream. Bankers, Mortgage companies and even the IRS make it almost impossible to actually achieve Ownership status. It’s Intentional. As Klaus Schwab said, “You will own nothing and be happy!”
Told a guy I know the other day that the currency was probably going to collapse and all his money would be worthless and he wouldn’t be able to buy anything. His response? He said, “Well, at least he still had his pension’. You can’t fix stupid. He’s a democrat.