It appears that one of the possible reasons why Biden’s support is reducing is due to Bidenomics. Democrats are praising him for his economic strategy, but for the most part, it seems that the average American is tired of it. Furthermore, reports state that there has been a 90% rise in mortgage payments on new homes.
The New York Post states, the American homeownership dream is fading as average monthly mortgage payments near double what they were under Biden’s term start. Skyrocketing interest rates beyond 7% and soaring house prices present one of the least affordable markets.
Renting now makes financial sense, with leases costing $1,000 less monthly than mortgages. Experts advise against waiting for market shifts but brace for prolonged high interest rates. Real estate data shows a staggering 90% increase in new home payments, now at $3,322 from $1,746 in 2020.
Despite expectations for lower rates in 2024, saving for a down payment remains tough for first-time buyers in a challenging market. The Fed’s efforts stabilised rates, recently dropping to 7.03%. Alternative living options and creative solutions, like moving to cheaper regions, are gaining traction.
Conservatives blaming Bidenomics for rise in mortgage payments
Who is actually better off now? Anyone?
— Arlin (@Arlin4US) December 13, 2023
Several X users ask if others are doing better than they did before the pandemic. Many have been complaining that their lifestyle had to be reduced after the pandemic. However, there are some that are in fact doing better than they were before. It is not the same for most of the country though.
🤣🤣🤣. If you can’t buy a house, get off your MAGAT welfare ass and stop leaching off the rest of us you lazy pile of 💩.
— Laura Loomers Dirty Bloomers (@homealone714) December 13, 2023
Following that, conservatives state that most Americans can’t afford a home today simply due to Bidenomics. This is a bold claim, but this is rather a popular opinion among X users. Democrat supporters state that conservatives should work and stop complaining about their lives.
Be that as it may, the entire world is under a bad recession due to the inflation and the effects of the pandemic.
Read More News