BIDEN WILL INCREASE HOUSING COST

BIDEN WILL INCREASE HOUSING COST

By: Derek Varsalona

The government seems to ruin everything it touches.  Now President Biden is looking to end the homeless problem by controlling the housing cost.  That will only increase the homeless problem in the long run over time.

Yesterday, President Biden announced his housing initiative.  He plans for the government to build more homes to decrease housing prices.  Normally this is a supply and demand side economics issue.  But with the government involved in housing, it is only going to increase the housing cost in the private nongovernment-funded sectors.    It is not the government's job to solve the housing process.  The mere fact that President Biden is getting involved is going to increase the cost of housing for everyone inflating the housing market.

President Biden is trying to create 2 million homes and provide $10,000 in mortgage relief payments.  That is a start but dictating what the housing market can do is only going to increase the housing market value making it more unaffordable to buy a home.  President Biden does not get it by dictating that the housing market cost will only increase the housing cost for all individuals involved.  This really is a win for the real estate companies and not the common people.  As always comments accepted.

Biden will increase housing cost

Source: President Joseph R. Biden. " Fact sheet: President Biden Announces Major News Actions to Lower Housing Cost by Limiting Rent Increases and Building more Homes." Whitehouse.gov Washington, DC: Tuesday, July 16, 2024.

https://www.whitehouse.gov/briefing-room/statements-releases/2024/07/16/fact-sheet-president-biden-announces-major-new-actions-to-lower-housing-costs-by-limiting-rent-increases-and-building-more-homes/