Joe Biden’s inflationary policies have crushed the US economy so badly that more than 60% of renters can no longer afford to live here. That’s according to an analysis of the most recent three-month period ending on May 31, 2024, conducted by Redfin. The main driver behind this housing crisis was Joe Biden throwing the southern border wide open to tens of millions of invaders.
The housing shortage has caused rents to skyrocket for the past three years in a row. The median price to rent an apartment has gone up to $1,653. In order to comfortably afford an apartment that price, a renter needs to make an income of $66,120 per year.
Unfortunately for renters, Biden’s illegal alien invasion has crushed wages for Americans. The median income for renters is just $54,712 per year. This translates into 61% of American renters who cannot afford to live comfortably because of Joe Biden’s policies. Renters would need to earn almost $1,000 more each month to be able to comfortably survive.
The irony is that in January 2021, the month that Donald Trump left office, an American renter only needed to earn $54,000 per year to comfortably afford an apartment. To put it another way, renters have lost $12,000 a year in wealth because of Joe Biden, and that’s just when it comes to their housing costs.
The only solution to this is to loosen up the demand for housing, and that means America must embark on a mass deportation exercise before it is too late. We’ve only built 3 million new housing units in the country since Joe Biden has been in office. Meanwhile, he’s allowed somewhere around 20 million illegal aliens into the country. If you want rent and housing prices to ever stabilize or go down, those people have to go back home.
