TITILE:stop dreaming
The idea of the work
High house prices benefit those who already own homes, but much of the increase is due to general inflation, which hit 9% last year to the detriment of everyone.
The bigger killer for first-time homebuyers is the steady rise in mortgage rates under Biden. When he took office, national mortgage rates were 2.9%. It is now 7.1%, thanks in large part to Biden’s $6 trillion spending and borrowing spree in 2021 and 2022 that prompted the Fed to raise interest rates 11 times.
Author:Catherine
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