The Obama administration has a tendency to conflate the strong performance of Fed-induced “assets bubbles” with “strong economic growth.” Unfortunately, as is often the case these days, the “hard data” paints a slightly different picture than the “narrative” being pushed by Obama and his staff.
Per a new report from the Pew Research Center, and as our readers are undoubtedly aware, home prices have indeed recovered to pre-recession levels with a little help from Janet Yellen and crew.
That said, the Obama narrative breaks down from there as further research readily reveals that home prices have recovered despite a massive drop in overall homeownership rates.
Moreover, the folks that seem to have been hit the hardest are the ones that were the biggest supporters of Obama’s “Hope & Change” agenda. Per the table below, homeownership rates among “Young Adults” and “Blacks” are down 18% and 16%, respectively, since…
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