Since January 2020, the average 30-year fixed mortgage rate has increased from 3.68% to 7.07%, significantly elevating monthly home payments and overall affordability challenges. -- Under President Biden's administration, many Americans are grappling with escalating costs of living that stretch beyond the housing market to include essential items such as food and gasoline. Dubbed "Bidenomics," this economic strategy appears to falter as inflation persists, heavily impacting everyday expenses up near universally. Despite the administration's efforts to stabilize the economy, the prices of groceries and fuel have soared, squeezing household budgets. This rise in basic living costs is not only deepening the affordability crisis but also fueling discontent among voters who find these increases unsustainable. Bidenomics has not delivered on its promises, leaving many American families to navigate these financial pressures without sufficient relief. - https://mxmnews.com/article/b0ec7576-d55a-42fb-87f4-f91c0c8ced6f?u-s-housing-market-faces-downturn-under-bidenomics-as-mortgage-rates-exceed-7
