{"id":2049959,"date":"2023-09-29T16:51:02","date_gmt":"2023-09-29T20:51:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-average-american-cant-afford-homes-in-99-of-country\/"},"modified":"2023-09-29T16:54:26","modified_gmt":"2023-09-29T20:54:26","slug":"bidenomics-average-american-cant-afford-homes-in-99-of-country","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-average-american-cant-afford-homes-in-99-of-country\/","title":{"rendered":"Bidenomics: Most Americans Can&#8217;t Buy Homes in 99% of the Country."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidenomics-average-american-cant-afford-homes-in-99-of-country%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2049959&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>It&#8217;s Time for Your Daily Dose of Bidenomics<\/h2>\n<p>Get ready for a wild ride through the world of <a href=\"https:\/\/www.dailywire.com\/collections\/bidenomics\" target=\"_blank\" rel=\"noopener\">Bidenomics<\/a> \u2014 where the rules are made\u200d up and the points don&#8217;t matter.<\/p>\n<h3>The\u200b Housing Crisis: Evidence\u200b of a Historic Economy?<\/h3>\n<p>Today, we&#8217;ll dive into the shocking reality \u200cthat the average American can&#8217;t afford\u200d to buy\u2063 a home in 99% of the \u200dcountry. And believe it or not, \u2064this is being\u200c touted as\u2064 evidence of a historic economy.<\/p>\n<p>According to a \u200dreport by\u2064 CBS <a href=\"https:\/\/www.cbsnews.com\/news\/homes-for-sale-affordable-housing-prices\/?ftag=CNM-00-10aab7e&#038;linkId=238177107\" target=\"_blank\" rel=\"noopener\">news<\/a>, real estate data provider ATTOM reviewed median home \u2064prices in 575 counties across the country. Their conclusion? The average \u200bincome earner, making $71,214 a year, can only afford to buy\u2062 a\u200b home in\u2062 1% of those \u2062areas in 2022.<\/p>\n<p>But why is this\u200b happening? Daryl Fairweather, Chief Economist at Redfin, explains that the\u2064 lack of new inventory is driving up \u2064prices. People\u200b are holding onto their\u2062 homes,\u2064 and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/turkeys-lira-sinks-again-as-erdogan-cites-islamic-sharia-law-to-defend-economic-management\/\" title=\"Turkey\u2019s Lira Sinks Again as Erdogan Cites Islamic Sharia Law to Defend Economic Management\">high interest rates<\/a>\u200b are \u200calso playing a role\u2064 in keeping homeownership out of reach\u200b for\u200c many.<\/p>\n<p>But it doesn&#8217;t stop there. Sen. JD Vance (R-OH) points out that corporations buying single-family homes \u200dand\u2063 even the Chinese Communist Party&#8217;s\u2064 involvement\u200b are exacerbating the crisis. Vance argues that it&#8217;s nonsensical\u2062 to allow foreign entities \u200bto snatch \u2063up homes that\u200c should be available to American citizens.<\/p>\n<h3>The \u200cRole of Immigration in the \u200cHousing Crisis<\/h3>\n<p>While the housing\u200c crisis has many contributing factors, one\u200c that often gets overlooked is immigration. Studies have shown that both legal \u2064and illegal immigration impact rental and home-owning \u2063prices. The millions of people entering the country each year drive up\u2062 demand,\u200c which in \u2062turn drives up\u2064 prices.<\/p>\n<p>Vance emphasizes the connection between immigration and the housing crisis, stating that\u2062 when you allow millions of \u2064people to enter the country illegally, they all need homes. It&#8217;s a problem that \u2062cannot\u200c be ignored.<\/p>\n<h3>America Last: Biden&#8217;s\u2062 Priorities<\/h3>\n<p>With such a\u2063 fundamental aspect of the American dream out\u2062 of reach\u2064 for many, you\u2062 would expect\u2062 Washington to address the housing crisis. However, the\u2063 focus seems to be \u2062elsewhere. The southern border remains\u2063 a\u200c hot topic, and aid to Ukraine takes precedence over solving the housing \u2063crisis.<\/p>\n<p>While the enormity of the crisis presents an opportunity for\u2063 the Republican Party to secure electoral victories, few seem genuinely concerned about it. Instead,\u2063 Biden continues\u200b to boast \u200babout a booming \u200beconomy,\u2062 advocate for increased immigration, and prioritize spending\u200c billions in Ukraine.<\/p>\n<p>It&#8217;s clear that \u200cBidenomics is\u2063 synonymous with &#8220;America Last.&#8221;<\/p>\n<div class=\"css-j7qwjs\">\n<div id=\"post-body-text\">\n<div class=\"e1nzmkc90 css-15jw47d\">\n<p><em>The views expressed in this\u200c piece are the author&#8217;s\u2062 own and do not\u2064 necessarily represent those of The Daily Wire.<\/em><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p> <\/p>\n<h2> How has the Federal Reserve&#8217;s\u2063 low-interest-rate policy contributed to the housing crisis?<\/h2>\n<p><span>  S are discouraging potential buyers. Additionally, the pandemic has caused a surge in demand for housing, further \u200dexacerbating the issue.<\/p>\n<p>So why is this being hailed as evidence of a historic economy? Supporters \u2064of Bidenomics\u200c argue that high housing prices are a sign of a thriving economy. They believe that the strong housing market reflects confidence in the economy and increased purchasing power. However, critics \u2063argue that this is\u200d simply\u2063 a result of\u2064 unsustainable government policies and excessive spending.<\/p>\n<p>One major factor contributing to the housing crisis is the Federal Reserve&#8217;s low-interest-rate policy. The artificially low-interest rates have fueled demand for housing, driving up prices. This policy \u200dhas made\u2063 it easier for individuals to secure loans and \u200bmortgages, but it has also created a \u200cbubble that could burst at any moment.<\/p>\n<p>Another factor is the government&#8217;s intervention in the housing market. Through various initiatives and programs, the\u2062 government has attempted to make housing more affordable for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/usda-increases-food-stamps-program-with-covid-relief-bill-funding\/\" title=\"USDA Increases Food Stamps Program With COVID Relief Bill Funding\">low-income individuals<\/a>. While these efforts may seem noble, they have unintended \u2064consequences. By artificially lowering barriers to homeownership,\u2062 the government has encouraged speculative\u200b investment and created an imbalance in supply and demand.<\/p>\n<p>Furthermore, the Biden administration&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sen-blackburn-urges-opposition-to-bidens-build-back-broke-agenda\/\" title=\"Sen. Blackburn urges opposition to Biden\u2019s \u2018build back broke\u2019 agenda\">proposed spending plans<\/a> could exacerbate the housing crisis. The administration&#8217;s infrastructure\u200c and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-average-american-cant-afford-homes-in-99-of-country\/\" title=\"Bidenomics: Most Americans Can't Buy Homes in 99% of the Country.\">social spending proposals involve massive government spending<\/a>, \u2064which could lead to inflation and further drive up housing prices. \u200dAdditionally, proposed tax increases on high-income individuals\u2062 and corporations could\u200d discourage investment in the housing market, worsening the shortage of \u200daffordable homes.<\/p>\n<p>So, what is the solution \u2063to the housing\u200b crisis? Critics of Bidenomics argue for a more market-oriented approach. They believe that reducing \u2063government intervention and allowing market forces to \u200doperate more freely would lead to a more sustainable and affordable housing market. They suggest measures such as deregulation, incentivizing new home construction, and promoting private sector investment.<\/p>\n<p>On the other hand, supporters of Bidenomics advocate\u2062 for more government intervention. They propose policies \u200dsuch as increasing financial assistance for low-income individuals, expanding affordable housing programs, and implementing stricter regulations on landlords and developers. They argue that these measures \u2063will help \u2062alleviate the \u2064current \u2062crisis \u200cand provide \u2063affordable \u2064housing for all.<\/p>\n<p>In conclusion, \u200bthe housing crisis is \u200da complex issue that cannot be attributed solely to Bidenomics. However, the policies\u200d and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oecd-u-s-economy-to-speed-up-to-6-9-in-2021-but-inflation-bites\/\" title=\"OECD: U.S. economy to speed up to 6.9% in 2021, but inflation bites\">spending plans proposed<\/a> under the Biden administration have the potential\u2062 to either exacerbate or alleviate the crisis. It is important for policymakers to carefully consider the long-term implications of their actions \u200cand strive for sustainable \u2064solutions that benefit all Americans. Only with a balanced approach and thoughtful decision-making can we hope to address the housing crisis and ensure \u200da thriving economy for future generations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s time for your daily Bidenomics update. Today, we&#8217;ll discuss how the unaffordability of homes for most Americans in 99% of the country is seen as a positive sign for the economy. CBS recently reported on this historic situation.<\/p>\n","protected":false},"author":326,"featured_media":2049960,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2049959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2049959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/326"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2049959"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2049959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2049960"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2049959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2049959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2049959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}