Housing Crisis Looms Large in 2024 Election

Economists warn that President Biden's latest housing policy proposals, which include subsidies and tax credits for homebuyers, could further inflate already high home prices. They argue that these measures, combined with high inflation and excessive government spending, distort market prices and misallocate resources. Critics also highlight that Biden's plans to build new homes may crowd out private sector construction, exacerbating the housing shortage and driving costs even higher.