President Joe Biden’s policies are making it difficult for young people to achieve their dream of owning a home. High mortgage interest rates, caused by the Federal Reserve’s efforts to control inflation, are a major barrier to home ownership. Inflation has been exacerbated by irresponsible federal spending, such as the American Rescue Plan Act, which has led to a significant increase in prices.
Biden has proposed tax credits for first-time home buyers, but this could actually drive up starter home prices by increasing demand without increasing supply. Additionally, his support for higher teacher pay could lead to higher property taxes, further reducing affordability for homeowners.
The administration’s failure to secure the southern border has contributed to an increase in the illegal immigrant population, which in turn drives up housing costs in areas with high immigrant populations. Studies show that mass migration increases demand for housing and raises prices for both homes and rentals.
If Biden truly wanted to make home ownership more accessible, he would focus on fiscal responsibility and border security. Unfortunately, his current policies are moving in the opposite direction, making it harder for young people to achieve the goal of owning a home.
