Average Monthly Mortgage Payment Skyrockets to $3,322 In Biden’s America

In a striking reflection of Bidenomics, the average monthly mortgage payment in the United States has nearly doubled under President Joe Biden’s administration, reaching $3,322, as reported by the Wall Street Journal.

This figure starkly contrasts with the $1,787 average at the end of former President Trump’s term. The surge in mortgage payments is attributed to a combination of soaring home prices, exacerbated by the pandemic, and the recent hike in mortgage rates.

The Federal Reserve’s aggressive rate increases, aimed at curbing inflation, have further strained affordability, particularly affecting young, first-time homebuyers – a demographic that predominantly supports the Democratic Party.

This situation underscores the growing challenge of homeownership in America, with little indication of a near-term reversal in trends. Meanwhile, older homeowners, who have cleared their mortgages, find themselves in a favorable position, benefiting from high interest rates on their savings.