Bidenomics hits Americans: Mortgage payments UP 90%

 December 14, 2023

This story was originally published by the WND News Center.

Before Joe Biden took over the White House, the average monthly payments across the nation on a new home were $1,746.

That was actually only a few years ago.

But data from real estate investment firm CBRE says that figure now is $3,322, a "staggering" 90% hike.

Joe Biden repeatedly has touted "Bidenomics" as a reason to re-elect him to be president until he's close to 90 years old.

That's the set of policies that gave Americans 9.1% inflation, gas at $6 a gallon in many locations, rocketing food prices, and worse.

This includes mortgage payments, which now are up 90% on his watch.

The New York Post warns that, because of Biden, "The dream of owning a home in America is slipping farther away for many, with average monthly mortgage payments now nearly double what they were at the start of the Biden administration.

"As interest rates surge above 7% and housing prices continue their ascent, aspiring buyers are confronted with one of the most unaffordable markets in recent memory," the report charged.

Part of the problem has been the ripple effect of the Democrats' agenda to spend trillions of borrowed dollars in various programs sought by Biden and his cronies. That pushed inflation to levels as high as 9.1%, and the Federal Reserve, trying to pull that down, has raised interest rates so that home mortgages often now are close to 7%.

A report from the Post noted that Democrats like Biden's economic work, but "for the most part, it seems that the average American is tired of it."

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