Steve Moore: Biden-Harris ‘Spending Spree’ Caused Housing Crisis with ‘Massive Inflation and Much Higher Interest Rates’
‘The major reason that people are having a hard time buying a home right now or finding a home to rent is because the mortgage rates have doubled’
Aug 25, 2024 11:00 AM
By Grabien Staff
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EXCERPT:
MOORE: "You know, when Trump left office, we had 3 percent mortgage rates. I think a lot of viewers will remember that. And now the mortgage rates depending on where you live are 6.5-7 percent. So I did the numbers, Jon. That means that if you, for a young person who wants to buy a new home, let’s say a young couple with one or two kids, their mortgage payments over 30 years are going to be twice as high as they were when Trump was president. So, in other words, what caused this housing crisis, in my opinion, was the massive Biden and Harris spending spree which led to massive inflation and much higher interest rates."