The American housing market is currently experiencing significant challenges, with rising interest rates and home prices making homeownership increasingly unattainable for many. Mortgage rates have surged to 7.03%, contributing to a phenomenon known as 'mortgage rate lock-in,' where homeowners are unable to upgrade from starter homes. This situation has left many prospective buyers, particularly younger generations, feeling disillusioned. Additionally, the cost of homeownership is further exacerbated by rising energy costs, with summer home power bills expected to increase by nearly 8% this year, reaching an average of $719. Mid-Atlantic and West Coast states are forecast to have the biggest hikes in home electricity costs, jumping about 12% from the same period last year. These economic pressures are attributed to 'Bidenomics,' with critics arguing that the policies under President Biden's administration have led to a 114.5% increase in the cost of a median-priced home since he took office.
BIDENOMICS: Home insurance premiums are up 38% since 2020 https://t.co/E7xr5aRQgm
⚡️ Mid-Atlantic and west coast states are forecast to have the biggest hikes in home electricity costs from June to September, jumping about 12% from the same period last year. https://t.co/ZpbR67zRzO
For too many, access to affordable housing is out of reach. I’m working in Congress to bring down rent costs and decrease barriers for first-time homebuyers across #CA52 and the nation.
Since Biden took office, prices have risen 19.9.%, making basic necessities unaffordable for many hardworking families. @HouseGOP is fighting to rein in reckless Democrat spending to drive down these skyrocketing costs.
🚨Home building costs have massively spiked in the last 4 years. That’s Bidenomics. https://t.co/04Al8wuHiz
Since Joe Biden took office, the average Summer Electric Bill is UP NEARLY 30% to $719.00. This is the "Bidenomics" they continue to brag to you about. https://t.co/GFUa7Vrh0P
This year, the average electric bill is UP NEARLY 30% ($163.00) since Joe Biden took office. Thanks to Bidenomics, EVERYTHING costs more. https://t.co/XIUoNmA17i
In 1971, my dad bought the house I grew up in for $15,000. Today that house would cost nearly $500,000. We need to combat this crisis and take action to bring down the cost of housing. #NationalHomeownershipMonth.
US summer home power bills to jump by nearly 8%, energy policy organizations say https://t.co/tbAHIwMiFs
Bidenomics continues to kill small businesses. Skyrocketing inflation is an invisible tax that cripples American families and job creators. https://t.co/ZODt0PJwuQ
Under @JoeBiden, prices have soared to 40-year highs, and those who can afford it the least, feel it the most. Montanans can’t afford Bidenomics. https://t.co/gjXd9yEtE9
The cost of a median price home is up 114.5% since President Biden took office. The American dream of home ownership is slipping away under Bidenomics. @RealEJAntoni https://t.co/WGAGzScU6F
Climate change could spell financial trouble for families trying to cool homes with summer temperatures projected to hit record highs.https://t.co/45uB9G2OUD
Let’s Go Brandon! “US summer home power bills to jump by nearly 8%, energy policy organizations say” | Reuters https://t.co/EfrVxcmffV
In 2020, the average U.S. electric bill from June to September was $556. This year, it's expected to be $719 — an increase of nearly 30%. That's Bidenomics! https://t.co/SprPV177ta
🔵 US SUMMER HOME POWER BILLS TO JUMP BY NEARLY 8%, ENERGY POLICY ORGANIZATIONS SAY Full Story → https://t.co/SnsSZRlClu U.S. home energy bills are expected to rise by 7.9% this summer as extreme heat increases cooling costs, according to a study released on Monday by the…
As interest rates in the US remain higher for longer, the American Dream of affordable homeownership is unattainable for longer — and maybe for good via @Bloomberg's @PaulinaCachero and @jeneps https://t.co/F4RAMTLMie https://t.co/iegfqDkTjN
The average cost of keeping an American home cool from June to September is set to hit $719, nearly 8% higher than last year, according to new projections. https://t.co/NTqBgWbs0E
Prices continue to skyrocket, a direct result of #Bidenomics. https://t.co/VzYQnfuky4
#Bidenomics is making the American dream of homeownership unattainable. “Mortgage rates increase to 7.03%” https://t.co/xWnL7dBm3e
"Stuck in a Starter Home" by @rcallimachi conveys ongoing challenges in the housing market and mentions research about "mortgage rate lock-in" from our FHFA WP 24-03 @JonahCoste @drmichaelseiler https://t.co/EHisSaltyF
Opinion: The American housing market is experiencing rising rents and elevated mortgage rates, which are constantly driving up home prices, leaving the younger generation feeling disillusioned and in peril as their dream of owning a home fades further away.… https://t.co/RsyMXSjT8L
Biden’s high interest rates are hurting homeowners. High Rates and Prices Leave Many Stuck in a Starter Home - The New York Times https://t.co/xwsq8juTLD