This guy is essentially right about the socialists creating affordability issues. Their spending during the Biden Administration caused inflation to spike severely. But it should be noted that the approach to Covid embraced by both Republicans and Democrats helped cause the price of homes to spike upward. And the refusal of both parties to deal with the corporate purchases of single homes is also contributing to high home prices:
Affordability As A Political Weapon
4 thoughts on “Affordability As A Political Weapon”
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Democrats claim they made goods and services affordable . That is a damn lie.
Just look at the receipts.
QED
The Republicans ought to be able to make the general public understand this. Will they? I don’t know, Fred.
His points are good. But it is more complicated. Trump and Republicans share at least a portion of the blame for the massive spending associated with the Faucian Dystopia.
But even more important (and difficult for the public to grasp) is that the massive “money printing” by the Fed–to enable the Brobdingnagian deficit spending– disproportionately hurts that “have-nots”. The 1st users of the newly created money (govt. & other major borrowers [esp. big corporations] and banks) benefit before it has lost its value to inflation. Holders of stocks and real estate benefit from the artificially low interest rate the money printing initially causes.
People without stocks or real estate or any assets but maybe CDs (which are a Fed-disadvantaged way to build a down payment) see their relative wealth and well-being plummet. The average real wage typically lags inflation. The have-not’s ability to afford a home declines further. If you doubt me, look at the remarkable chart of median home price compared to the average wage since 1990. The Fed is a major cause of widening income inequality. The Fed is the enabler of the alcoholics of both parties, and they will never bother their enabler.
Absolutely, J. Sobran, the Republicans share the blame for Covid spending; for their own spending at other times; and most recently, for refusing to cut. They should be cutting back to 2019 levels, but they will not.