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Homeowners Get Terrible News Under Biden

via CNBC Television.

The cost of homeownership has risen significantly under President Joe Biden’s leadership, as the average American now officially needs to make around $115,000 per year in order to afford a home.

“Latest data from real estate company Redfin has revealed that prospective homebuyers need to earn a salary of $114,627 – up 15 percent from a year ago and up more than 50 percent since the start of the pandemic,” wrote the UK’s Daily Mail.

“This is about $40,000 more than the income of a typical household. The average worker’s salary was around $75,000 in 2022 – the most recent US Census Bureau data available.” (Poll: Is Bidenomics Helping Americans? VOTE)

“The typical US home sold for about $420,000 in August, up 3 percent year over year and about $12,000 shy of the all-time high hit in mid-2022, according to Redfin,” the outlet added.

The news comes as poll after poll has revealed that “Bidenomics” has turned out to be a complete failure.

Interest rates are skyrocketing as well, making it extremely difficult for new buyers to enter the housing market.

“In a homebuyer’s ideal world, rising mortgage rates would push demand and home prices down enough to make up for high interest payments,” Redfin’s Chen Zhao stated. (Trending: Devastating New Poll For Joe Biden)

“But that’s not what’s happening now: Although new listings are ticking up slightly, inventory is still near record lows as homeowners hang onto their low mortgage rates–and that’s propping up prices,” she continued, saying, “Buyers – particularly first-timers – who are committed to getting into a home now should think outside the box.”

“Consider a condo or townhouse, which are less expensive than a single-family home, and/or consider moving to a more affordable part of the country or a more affordable suburb.”

A Marquette University poll revealed that former President Donald Trump has a 23 point lead over Biden regarding voters trust in the handling of inflation, the economy, and security at the border.

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