Biden’s Impact On Housing Market
New home buyers aren’t happy.
Since President Biden has come into office a lot has changed. For middle class America inflation has beaten down on them and there is little good news in sight.
Now, it appears that President Biden’s inflation has resulted in home prices soaring to a record high in 2021.
According to Breitbart, home prices surged by 18.8 percent last year alone. This growth in prices made it the single biggest one year increase since 1987.
Many reasons caused the housing market to soar in pricing. The pandemic was a major player in rising home prices. Many Americans decided to or were given the option to work and go to school from home.
Furthermore, Breitbart explained, The major anti-policing protests, which often developed into rioting and looting, of 2020 and the resulting rise in violent crime pushed many families out of city centers. Urban living also became less attractive and easier to give up when many amenities–such as restaurants, bars, theaters, and museums–were shuttered for months at a time.
It is unclear how much home prices will continue to soar in 2022 however things are not looking good at the moment.
