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this post was submitted on 14 Jan 2024
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politics
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The Trump economy is exactly why we're having this housing crisis. His administration kept interest rates insanely low, way after the economy had recovered from the recession. This resulted in an insane amount of borrowing, because even poor investments could easily beat the interest rate, so it was essentially free money.
Well, surprise surprised, a ton of that borrowed money went straight into the real estate market as "safe" investments, which caused housing prices to sky rocket.
The pandemic certainly added fuel to the fire, but people tend to forget the underlying cause of massive housing inflation - "free" money and a no brainer investment.
The pandemic just fuel to the fire because everyone suddenly looked to upgrade their home situation, due to being stuck there on lock down.
And speaking of fuel, there’s more domestic oil production under Biden than under Trump! How much do we hear them bitch about the price of gas? They’re so stupid
Probably actually more a problem with fed policy under Obama. It's understandable that rates went to zero after 2008, but keeping them there for 7+ years doesn't look great in hindsight. Trump actually did hike rates prior to the Pandemic, with Obama doing a few small hikes right before he left office as well.