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Unaffordable Housing Caused By Biden Administration's Deficit Spending

Floor Speech

By: John Rose
By: John Rose
Date: June 11, 2024
Location: Washington, DC

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Mr. ROSE. Mr. Speaker, affordable housing continues to be a problem for Tennesseans. Unfortunately, it is getting worse. The cost of owning a home continues to climb, putting the American Dream out of reach for millions of Americans.

The cost of a new home in February 2020 averaged $332,000. Now, 4 short years later, that average is $434,000. This is a direct result of the Biden administration's out-of-control deficit spending.

Inflation was at 1.9 percent prior to this administration. It has risen 20 percent since. In Tennessee, families are now paying $22,277 more a year, on average, for the very same goods they were buying in January 2021. This makes buying a home just that much more difficult.

Mr. Speaker, it is time for this administration to put the credit card down and enact policies aimed at restoring the American Dream.

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