These new numbers show Biden is winning his war against first-time home buyers

Gas prices are at an all-time high – and getting more difficult to afford by the day.

Inflation is the worst it’s been in several decades – and your dollar is worth less by the day.

And now the Biden economy is making it nearly impossible for first-time home buyers to pursue their slice of the American dream.

If you’re trying to buy a home right now, best of luck to you.

Homes priced at fair-market value are being swept up in a matter of days – often times, sight unseen.

The Biden economy is forcing people to take those types of risky investments if they have any hope of purchasing a home of their own.

Especially if you’re a first-time home buyer looking to purchase your share of the American dream.

With so much competition for homes, all things being equal, real estate agents are choosing to work with experienced home buyers over the novices.

It doesn’t help that, according to a report from the Wall Street Journal, mega conglomerate corporations like BlackRock are snatching up 15% of the available low supply of houses on the market.

BlackRock – and companies like it – buy homes, often above asking price, and most of the time without seeing the property in person – and then turn them around as rental units.

In fact, in April one investment firm won a bidding war to purchase an entire neighborhood worth of single-family homes in Conroe, Texas.

And to make matters worse, the prices for houses just keep climbing – and fast.

According to the S&P CoreLogic Case-Shiller Home Price Index, the cost of a home surged 20.6% year-over-year from March of 2021 to this March.

“Those of us who have been anticipating a deceleration in the growth rate of U.S. home prices will have to wait at least a month longer,” said Craig Lazzara, managing director at S&P DJI.

According to Business Insider, as of March, the median home price in the U.S. reached a record high $392,000.

Meanwhile, the required down payment for the median home in America is $78,400.

That’s a whole lot of cash-on-hand for American workers to be sitting on during Bidenflation.

According to a TD Bank survey, 67% of Americans say they are concerned about the surging home prices – while 65% of first-time home buyers say housing costs are now too high for them.

It’s not just the price tag on the house itself that is causing pain in the pocketbook of first-time home buyers – rising interest rates, meant to ease long-term inflation, are making the home buying experience even more painful right now.

Mortgage News Daily is reporting the average rate on the 30-year fixed mortgage stood at 3.29% at the start of January and ended March at 4.67%.

There is no help in sight, as the Federal Reserve plans to keep jacking up interest rates in hopes of mitigating President Joe Biden’s disastrous economic performance that has led to skyrocketing costs for almost all products and services.

The minutes from the Federal Reserve’s latest meeting indicate they are planning more 50-basis point rate hikes this year.

In early May, they already added a half-point to interest rates, but more increases are on the way.

Meanwhile, corporations like BlackRock don’t have to worry about high mortgage rates.

Due to their buying houses in bulk like they’re making a trip to Sam’s Club or Costco – they can secure interest rates at about 1.4%, as opposed to the 4-5% American families are now being forced to endure.

Biden’s combination of crippling inflation, rising mortgage rates, and surging home prices is putting the dream of home ownership out of reach for many middle class Americans.

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