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Home prices are up “a whopping 47% since early 2020,” leaving “homeownership out of reach to all but the most advantaged households,”
“The all-in monthly costs of the median-priced home in the U.S. are the highest since these data were first collected more than 30 years ago.” …open our Southern border to some ten million illegal immigrants who compete for already scarce housing? Another Bidenomics piece of fallout comes from people holding on to their homes longer than they normally would. Unless forced to, no one is going to sell in this market because that means purchasing your next home at a 7 percent interest rate. Instead, people are sitting on their homes and waiting for a decrease in interest rates. This means fewer homes on the market, and fewer homes means higher prices. Scarcity benefits the seller, not the buyer.
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