“In many Democrat-led areas, like Chicago, the market conditions are even worse, especially as more Americans hightail it out and nobody moves in to buy the available homes.”
(Ryan Ledendecker – PJ Media) Thanks mostly to President Joe Biden’s policies and unprecedented Democrat-backed spending, America continues to suffer through record 40-year-high inflation. To combat what the Biden administration once called a “transitory” problem, the Federal Reserve has hiked interest rates at a breakneck pace, with additional hikes expected before the end of 2022.
As predicted by anyone with half a brain, rising interest rates, coupled with the vast number of uncertainties under the Biden administration and record inflation, mean the housing market is in trouble. Home sales are dropping… no, they’re plummeting.
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