BIDEN WILL ADD TO THE HOUSING CRISIS
By: Derek Varsalona
The housing crisis is out of control. Many people are living on the streets of San Francisco because they can not afford housing in the city. Many people in New York have affordability issues due to being in the highest housing cost area in the country. But President Biden's trying to help out with housing is only going to increase the housing cost just like his spending is keeping inflation at an all-time high. The fact of the matter is that if President Biden wants to lower the cost of housing he needs to get out of the way and let the free market manage the finances.
President Biden thinks that housing costs are out of control. He is right they are out of control. But President Biden interfering in the housing market is only going to increase the housing cost in America. It is going to have an adverse effect and leave more working-class people homeless. There is a way to get housing prices under control. That way is to have President Biden practice laze-fare economics and get out of the way of the housing situation. Let free market capitalism do its job and bring down the cost of housing.
President Biden's interference in the housing market with tax credits is only going to keep the price of housing rising in America. What President Biden is doing is he is increasing the cost of housing. The fact of the matter is that this is a supply and demand issue. The reason why housing is so expensive is because there is not enough competition to compete for housing in this country. The low supply is what is increasing the cost of housing in America.
The best way to bring down housing is to create jobs in multiple cities. That will force people to move out for better job opportunities in other cities. By doing so the people will be forced to sell their housing, and if there are enough sellers and buyers the price of the housing will go down through free market economics and competition.
Expanding the building of housing will bring the housing prices down. But the government's interference with vouchers will only bring the prices up. I get it, President Biden is indeed trying to help out in the situation. But President Biden is killing the free market and is actually increasing the inflation in the housing market since he is trying to control the housing market with vouchers.
If President Biden wanted to increase the housing market he first needed to increase the labor market. That means he needs pro-growth economic policies that will actually create job growth. If the jobs are plentiful in a certain area more housing will be built and the price of housing will go down. This is a supply and demand side issue in economics. As always comments accepted.
Biden will increase the Housing Shortage
Source: Rachel M. Cohen. “ Biden wants to Campaign on Housing. HE sort of Has to. vox.com New York City: April Fools Day, April 1, 2024.
https://www.vox.com/politics/24113340/biden-housing-2024-election-campaign-renters-tenants-mortgage
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