In an X post on Tuesday, Republican presidential candidate former President Donald Trump noted how the average cost of a new home in the United States has risen by 39 percent since President Joe Biden was inaugurated and Kamala Harris became vice president. This comes as Democratic nominee Harris has vowed to give first-time homebuyers $25,000 to put toward their down payments.
Data from the National Association of Realtors revealed that the median sale price of existing homes was $307,300 when Biden took office and has skyrocketed to $426,900, a 39 percent increase.
The post from Trump came in response to one from Harris that read, “Even if aspiring homeowners save for years, it is often still not enough. My administration will provide first-time homebuyers with $25,000 to help with the down payment on a new home.”
House prices continue to rise as the supply has dropped. A March Fox Business report noted that the cost of getting a home loan has risen at a faster rate than home prices. Since Biden took office, a monthly mortgage payment has increased by 98 percent. Rent has also gone up by 20 percent since January 2021. […]
— Read More: thepostmillennial.com
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