Inflation hurts everyone to some degree, but it hurts the poor most of all because they have no assets that are appreciating.
The middle class and rich at least have homes in most cases that will increase in value as inflation heats up.
A rich douche bag like Biden can’t see how bad this is for the average worker because he owned multiple homes that are appreciating in value and might have actually increased his networth overall during all this. So from his standpoint, thing are not that bad.
” increase in value “
Better change that statement to “increase in price”, only the numbers change, not the value.
An increase in value would mean the home became a lesser percent of income, which is not the case here.