President Joe Biden’s migration crisis raises the mortgage rates that burden young couples and families, according to the president of the Federal Reserve Bank of Minneapolis.
In turn, he said, mortgage rates are nudged upwards with higher interest rates, saying, “Perhaps a neutral rate for the housing market is higher than before the pandemic.” But since 2021, Biden’s deputies have also worsened inflation by importing roughly ten million legal, illegal, and quasi-legal migrants.
But this huge inflow has inflated housing prices, used autos, and other consumer items while also cutting wages for Americans.
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