People took out mortgages before Bidenomics can pay them off with Zimbabwe-like dollars.
People who do not have a house title or mortgage are priced out.
Agreed. People naturally don’t see what “inflation” truly is: the devaluation of our personal time and effort captured in a numeric figure. Many people are immune, with income which is not a reflection of their personal time and effort. Those of us in the middle feel it acutely, on the other hand, and it’s more than a little aggravating to fall farther and farther down the socio-economic scale while still working our tails off for the same number of hours (or greater). Destabilizing for our nation, but our ‘leaders’ don’t give a rip, as they consider themselves to be “Global Citizens”.
So glad I paid my home off early;in about 2003. I believe my mortgage was about 8.25% then, but the home was purchased fairly cheap in’77. Now, I guess there is no hope of ever owning another home so now I will likely live here until either or the house collapses. It is un-affordable at this point to even fix it up, thanks to Bidenomics.