October 18 2023
Bidenomics is putting home ownership out of reach for many Americans.
Axios: "The median income in the U.S. is $75,000 a year, but you'll need to earn $40,000 more to comfortably afford the median-priced home, per a new analysis from Redfin."
Americans who do own a home are also struggling to keep up with payments.
Insider: "Home foreclosure activity is surging in the US, attesting to financial pain among homeowners...Foreclosure filings – including default notices, scheduled auctions, and bank repossessions – jumped 28% in the third quarter from the prior quarter to 124,539, the real estate data group ATTOM said in a recent report. That represents a 34% surge from a year ago, attesting to growing financial distress among US homeowners."
Joe Biden doesn't think you should worry. According to the White House, all is going to plan and "Bidenomics is working."