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President Joe Biden talks exclusively with “CBS Sunday Morning” about withdrawing from race, threat of Trump
President Joe Biden spoke with CBS News chief election & campaign correspondent Robert Costa on Wednesday for his first interview since announcing he would no longer seek reelection to the presidency. The interview will be broadcast on “CBS News Sunday Morning” on Sunday, August 11 on CBS and streamed on Paramount+.
Costa, the co-author (with Bob Woodward) of “Peril,” which detailed Mr. Biden’s decision to run in 2020, has extensively chronicled the Democrat’s political career and presidency. In recent months, Costa has traveled on the campaign trail covering Mr. Biden, speaking with the president about the power of organized labor and talking with his supporters in battleground states.
The one-on-one conversation, which took place at the White House this afternoon, covered the president’s decision, announced on July 21, to end his bid for a second term; his outlook on the country; and a range of other topics, including his reflections on American democracy.
He also discussed the threat posed by the Republican nominee, former President Donald Trump, who refused to accept his loss in 2020 and has questioned the legitimacy of election results.
Asked if he were confident that there would be a peaceful transfer of power in January 2025, Mr. Biden said, “If Trump loses, I’m not confident at all. He means what he says. We don’t take him seriously. He means it, all the stuff about, ‘If we lose, there’ll be a bloodbath, it’ll have to be a stolen election.’
“Look what they’re trying to do now in the local election districts where people count the votes,” Mr. Biden said, “or putting people in place in states that they’re going to count the votes, right?”
Tune in for a first look tonight on “America Decides,” the CBS News 24/7 streaming network’s politics show, airing 5:00-6:00 p.m. ET on CBSNews.com/live and Paramount+.
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Built-to-rent communities a growing U.S. trend amid sky-high housing costs
As housing costs skyrocket and the demand for affordable homes surges, builders across the U.S. are constructing entire blocks of single-family homes specifically designed for renters. These so-called built-to-rent communities can offer another option for those who want a home but cannot afford to buy one.
Texas resident Richard Belote says his rented home 90 minutes from Houston is a “good stepping stone, because interest rates are “just too high to manage.” Despite saving diligently to buy a home, he and his fiancee feel priced out of their house hunt.
“Just really kind of crossing our fingers that those rates go down,” he said.
Belote is far from alone.
A July CNN poll found 86% of renters say they can’t afford to buy a home and 54% say they believe it’s unlikely they’ll ever be able to. However, another poll found 81% of renters want to own a residence in the future.
“House prices have gone up by more than 40% in just four years,” said CBS News business analyst Jill Schlesinger. “There are a lot of people out there who really, really want to be in homes, and they just can’t afford to get there,” Schlesinger said.
Built-to-rent communities began in Phoenix during the Great Recession to meet that demand. They are higher density and smaller cottage-sized homes — a literal cottage industry now spreading in cities across the Sunbelt, including Phoenix, Atlanta and Dallas.
Brent Long leads the build-to-rent expansion for Christopher Todd Communities in Arizona. He says the renters range in age from Gen Z to Baby Boomers.
“It’s really renters by choice and renters by need,” Long said.
When asked if the concept goes against a more traditional view of buying a home to achieve the American Dream, Long said, “I don’t think it takes it away. It solves some issues that are out there in terms of affordability, availability.”
Cassie Wilson rents by choice in Phoenix, Arizona. She says the “perfect” arrangement allows her to enjoy many amenities without the homeownership responsibilities.
“I can live here in a house that is fully up kept by someone else. I would like to buy a house out here. But on the flip side, I still want to travel,” Wilson said.
Though a growing industry, these built-to-rent communities made up only 7.9% of new residential constructions last year, according to Arbor Realty Trust.
Arizona housing advocates warn that the properties are not enough to push prices down, but welcome anything that helps to address the housing shortage.
Back in Texas, Belote said he wakes up every morning and enjoys his backyard with the dogs and his cup of coffee. It’s a home-sweet-home as he waits for a break in the housing market.