Did Bidenomics Kill The American Dream? Homes And Cars Are Becoming Increasingly Unaffordable For The Middle Class

• The prices of cars and homes have both grown increasingly out of reach for average Americans as inflation continues to degrade real wages.
• The heightened inflation that the U.S. is experiencing is fueled by the Biden administration’s policies of excessive government spending, which have led the Federal Reserve to raise its federal funds rate, driving up costs and interest rates, according to experts who spoke to the Daily Caller News Foundation.
• “It’s not easy to say what the ‘American Dream’ is at any given moment — we are a nation of hundreds of millions of individuals chasing unique goals,” Peter Earle, an economist at the American Institute for Economic Research, told the DCNF. “But mendacious and destructive government policies are a hindrance to just about every American’s dream. Unless they’re a politician.”

Average Americans are finding homes and cars increasingly unaffordable as inflation from high government spending raises prices and degrades purchasing power.

Half of consumers are being priced out of the car market as the cost of a monthly car loan payment is far exceeding what an average American can afford, while the home affordability index has fallen from a 169.9 point average in 2020 to 87.8 points as of July, according to the National Association of Realtors. One key driver of the rising expenses is inflation, which peaked at 9.1% in June 2022 and is linked to high government spending under the Biden administration, according to experts who spoke to the Daily Caller News Foundation.

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