{"id":2234413,"date":"2024-05-01T10:35:02","date_gmt":"2024-05-01T14:35:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-five-cities-where-rent-continues-to-explode-how-it-could-impact-the-election\/"},"modified":"2024-05-01T10:40:18","modified_gmt":"2024-05-01T14:40:18","slug":"bidenomics-five-cities-where-rent-continues-to-explode-how-it-could-impact-the-election","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-five-cities-where-rent-continues-to-explode-how-it-could-impact-the-election\/","title":{"rendered":"Bidenomics Impact: Rent Surges in Five Cities &#8211; Election Influence"},"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\">20<\/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-five-cities-where-rent-continues-to-explode-how-it-could-impact-the-election%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=2234413&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--><p>In May \u200d2024, Samantha Chang&#8217;s commentary highlights the nationwide rent surge in major U.S.\u2064 cities under \u200dPresident Biden&#8217;s administration,\u200c exacerbating\u200b inflation. Democrat-led\u2062 cities like Chicago\u2064 and New York \u2063witness significant\u2063 rent spikes.\u200b Experts fear this trend could worsen\u2063 inflation, complicating policy\u2063 decisions and emphasizing the \u2064need for \u2064housing solutions. The looming stagflation threat\u200b alarms analysts, painting\u2064 a\u200c challenging economic\u200c outlook for the U.S. citizens and potentially impacting the upcoming November election.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/commentary\/\">  Commentary <\/a>   <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/schang\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/schang\/%20\"><span>Samantha Chang<\/span><\/a> <\/span> <span>   May 1, 2024 at 6:23am <\/span> <\/span>  <\/header>\n<section>\n<p>The United States continues to crumble under Joe Biden\u2019s failed presidency, as rent in big cities nationwide skyrockets in tandem with crushing inflation.<\/p>\n<p>Rent in 18 of America\u2019s 50 largest metropolitan areas rose during the past year, according to data compiled by <a href=\"https:\/\/www.realtor.com\/research\/march-2024-rent\/\" target=\"_blank\" rel=\"noopener\">Realtor.com<\/a>.<\/p>\n<p>The biggest spikes occurred in the Northeast and the Midwest, with the liberal havens of <a href=\"https:\/\/www.westernjournal.com\/chicago-woman-maga-hat-unleashes-mayor-immigrant-spending-plan-use-tax-money-people\/\" target=\"_blank\" rel=\"noopener\">Chicago<\/a> and New York experiencing the largest year-over-year surge.<\/p>\n<ol>\n<li>Chicago: 4.3 percent increase in median rent.<\/li>\n<li><a href=\"https:\/\/www.westernjournal.com\/man-charged-connection-nypd-officers-death-gets-earful-new-yorkers-perp-walk\/\" target=\"_blank\" rel=\"noopener\">New York City<\/a>: 3.8 percent increase.<\/li>\n<li>Kansas City, Missouri: 3.4 percent increase.<\/li>\n<li>Boston: 3.3 percent increase.<\/li>\n<li>Indianapolis: 3.3 percent increase.<\/li>\n<\/ol>\n<p>Tellingly, all of the top five cities suffering the biggest rent increases are run by Democrats \u2014 a troubling trend for liberals as the November election approaches.<\/p>\n<p>Soaring rents are a major obstacle to getting the <a href=\"https:\/\/www.westernjournal.com\/bidenomics-inflation-killing-american-dream-100k-no-longer-enough-survive-states\/\" target=\"_blank\" rel=\"noopener\">runaway inflation<\/a> emblematic of the Biden presidency under control, experts say.<\/p>\n<p>\u201cRising shelter costs have been a major driver of the overall rate of inflation,\u201d according to Realtor.com.<\/p>\n<p>\u201cStabilizing market rents could make it difficult to see further improvement in the overall rate of inflation, complicating the Fed\u2019s policy decision and underscoring the need for additional housing construction to alleviate the supply shortage that is contributing to higher costs,\u201d the report added.<\/p>\n<p>Economist Austan Goolsbee, the president of the Federal Reserve Bank of Chicago, said increasing rents are the biggest stumbling blocks to taming inflation.<\/p>\n<div id=\"firefly-poll-container\">\n<p>Are <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morgan-stanley-threat-of-high-inflation-is-real\/\" title=\"Morgan Stanley: Threat of high inflation is real\">rent prices<\/a> out of control in your area?<\/p>\n<\/p><\/div>\n<p>\u201cHousing is the biggest stumbling block,\u201d Goolsbee told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-18\/us-rent-inflation-looms-over-potential-interest-rate-cut\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a>. \u201cWe thought we basically understood the mechanical, short-run model of how much housing inflation should be coming down. And it hasn\u2019t come down as fast as we thought it was going to have come down at this point.\u201d<\/p>\n<p>Rental inflation continues in the Midwest and in the blue states of the Northeast, while it\u2019s calming down in the red states of the South and the West.<\/p>\n<p>\u201cIn the Northeast and Midwest, rental inflation is not even a quarter of the way back down from the peak to pre-pandemic levels,\u201d Bloomberg reported. \u201cIn the South and the West it\u2019s more than half-way and almost four-fifths of the way there, respectively.\u201d<\/p>\n<p>The median rent in 10 cities across the nation is above $2,000 a month, according to Realtor.com.<\/p>\n<p>It\u2019s more than $3,000 a month in Boston, Massachusetts, and San Jose, California, both of which are blue states.<\/p>\n<p>Of the 10 cities where median rents are above $2,000 a month, only one city \u2014 Miami, Florida \u2014 is located in a Republican-run state.<\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">MarketWatch calculated the gross income over 12 months required to rent in the most expensive cities in the US: <a href=\"https:\/\/t.co\/Ivimmj5Kph\">pic.twitter.com\/Ivimmj5Kph<\/a><\/p>\n<p>\u2014 unusual_whales (@unusual_whales) <a href=\"https:\/\/twitter.com\/unusual_whales\/status\/1785312399618421057?\">April 30, 2024<\/a><\/p>\n<\/blockquote>\n<p>Punishing rent combined with exorbitant food prices could <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kathleen-j-anderson-possible-rail-strike-could-spell-big-trouble-for-economy-democrats\/\" title=\"Kathleen J. Anderson: Possible Rail Strike Could Spell Big Trouble for Economy, Democrats\">spell big trouble<\/a> for President <a href=\"https:\/\/www.westernjournal.com\/biden-finally-take-executive-action-border-repeatedly-claiming-nothing-report\/\" target=\"_blank\" rel=\"noopener\">Joe Biden<\/a> come November.<\/p>\n<p>Experts warn that the United States is barreling toward stagflation \u2014 a chilling scenario that could be worse than a recession. Stagflation is characterized by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economy-on-the-cusp-of-stagflation-seen-under-jimmy-carter-warns-asset-management-exec\/\" title=\"Economy \u2018On The Cusp Of\u2019 Stagflation Seen Under Jimmy Carter, Warns Asset Management Exec\">sluggish economic growth coupled<\/a> with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-secretary-janet-yellen-we-have-to-consider-rising-inflation-rates-when-doing-stimulus-package\/\" title=\"Treasury Secretary Janet Yellen: \u2018We Have To Consider\u2019 Rising Inflation Rates When Doing Stimulus Package\">rising inflation<\/a>.<\/p>\n<p>Wall Street analysts are sounding the alarm, saying there\u2019s trouble ahead for the U.S. economy following disappointing first-quarter GDP data, <a href=\"https:\/\/www.foxbusiness.com\/economy\/stagflation-fears-come-back-with-a-vengeance\" target=\"_blank\" rel=\"noopener\">Fox Business<\/a> reported.<\/p>\n<p>David Donabedian, the chief investment officer of CIBC Private Wealth US, said, \u201cThis was a worst of both worlds report: slower than expected growth, higher than expected inflation. The biggest setback is the acceleration in core inflation, and in particular, the services sector rising above a 5 percent annual rate.\u201d<\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">\ud83d\udea8CRASH ALERT \ud83d\udea8<\/p>\n<p>1973 VS 2024<\/p>\n<p>1973\/74 the market witnessed a 50% give back .<\/p>\n<p>We find ourselves in the same situation ONLY this time it much worse .\u26a0\ufe0f<\/p>\n<p>The threat of stagflation is real today as it was in the 70s .\u26a0\ufe0f<\/p>\n<p>Scary ?<\/p>\n<p>We await .<\/p>\n<p>God bless and Godspeed. <a href=\"https:\/\/t.co\/nisP7oTcPS\">pic.twitter.com\/nisP7oTcPS<\/a><\/p>\n<p>\u2014 The Great Martis (@great_martis) <a href=\"https:\/\/twitter.com\/great_martis\/status\/1785598873530159507?\">May 1, 2024<\/a><\/p>\n<\/blockquote>\n<p>JPMorgan Chase CEO Jamie Dimon believes the <a href=\"https:\/\/www.westernjournal.com\/wall-street-veteran-recession-inevitable-us-economic-decline-will-begin-2024\/\" target=\"_blank\" rel=\"noopener\">stagflation scenario<\/a> of the 1970s could return.<\/p>\n<p>\u201cI think there\u2019s a chance that can happen again,\u201d Dimon said last week, according to Fox Business. \u201cI worry it looks more like the \u201970s than we\u2019ve seen before.\u201d<\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">Google searches for \u201cstagflation\u201d have spiked to their highest levels since the first half of 2022. Not something incumbents want to see during an election year! <a href=\"https:\/\/t.co\/haD4mo33aK\">pic.twitter.com\/haD4mo33aK<\/a><\/p>\n<p>\u2014 Bespoke (@bespokeinvest) <a href=\"https:\/\/twitter.com\/bespokeinvest\/status\/1785317065257042332?\">April 30, 2024<\/a><\/p>\n<\/blockquote>\n<p>Americans are buckling under severe economic pressures right now, which makes you wonder why Biden allows unfettered illegal immigration and continues to send <a href=\"https:\/\/www.westernjournal.com\/house-passes-61-billion-foreign-aid-package-ukraine-speaker-johnson-forces-bill-floor\/\" target=\"_blank\" rel=\"noopener\">tens of billions of U.S. tax dollars<\/a> to Ukraine and other nations.<\/p>\n<p>Hopefully, voters will remember Biden\u2019s destructive \u201cleadership\u201d come November.<\/p>\n<hr>\n<div>\n<p><b><i>An Important Message from Our Staff:<\/i><\/b><\/p>\n<p><i><span>We who work here at The Western Journal have fought for years against Big Tech and the elites who want to shut us down and then shut America down. <\/span><\/i><\/p>\n<p><i><span>Make no mistake \u2014 nothing will be the same after November 2024. Will you help us fight? Will you <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>help us expose the America-hating elites<\/span><\/i><\/a><i><span>  who will do everything they can to steal this election? <\/span><\/i><\/p>\n<p><i><span>We\u2019re a small group of people fighting to save the country for our readers and for our own family and friends. <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Can we count on your help?<\/span><\/i><\/a><\/p>\n<p><i><span>At this point, Big Tech has cut off our access to 90% of advertisers. Imagine if someone took 90% of your paycheck and there was nothing you could do. They\u2019re trying to starve us out.<\/span><\/i><\/p>\n<p><i><span>Donations from readers like you have literally helped keep our lights on, and <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>we need you<\/span><\/i><\/a><i><span>  now more than ever. <\/span><\/i><\/p>\n<p><i><span>We operate on a shoestring budget, but with that budget, we terrify the globalists. Please help us continue the fight. <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Stand with us<\/span><\/i><\/a><i><span>, and we will never surrender.<\/span><\/i><\/p>\n<p><i><span>Thank you for reading The Western Journal and for believing in America. <\/span><\/i><\/p>\n<p><i><span>It is a pleasure to serve you.<\/span><\/i><\/p>\n<p><i><span>P.S. Please don\u2019t let the America-hating left win. <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Stand with us today<\/span><\/i><\/a><i><span>!<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-45423\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/schang\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-45423\">Summary<\/label><label for=\"more-info-tab-radio-45423\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-45423\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-45423\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Samantha Chang is a political commentator, lawyer and financial editor in NYC.<\/p>\n<\/p><\/div>\n<div>\n<p>  Samantha Chang is a politics writer, lawyer and financial editor based in NYC. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In May 2024, Samantha Chang comments on the escalating rent crisis under President Biden&#8217;s leadership. In major U.S. cities, rent soars amid crippling inflation. Realtor.com&#8217;s data reveals rent hikes in 18 of the top 50 metros, signaling significant challenges for residents<\/p>\n","protected":false},"author":2011,"featured_media":2234414,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/Chicago-Homes.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2234413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/Chicago-Homes.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2234413","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\/2011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2234413"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2234413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2234414"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2234413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2234413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2234413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}