US EditionAffordability Isn’t a Hoax. It’s Not a Crisis for Most, Either
Affordability challenges affect some Americans due to inflation and rising housing costs, but real income growth for most has remained positive, says Allison Schrager.
- Allison Schrager, Bloomberg Opinion columnist and Manhattan Institute senior fellow, argued rising costs squeeze many Americans but do not amount to a nationwide affordability crisis.
- Inflation spiked after the COVID-19 pandemic, worsening affordability as household prices rose and real incomes fell, while residual sticker shock from a few years ago fuels ongoing anxieties.
- Food costs rose 27 percent since 2020 and continue rising about 3 percent a year, while urban rents climbed nearly 30 percent and higher mortgage rates have made buying harder.
- Lower-Income Americans face real burdens with real incomes that have fallen or remained flat, while about two-thirds of US households are homeowners with many mortgages fixed under 4 percent.
- Some high-profile estimates of middle-class decline rely on questionable assumptions, including the assumption of two children in family models despite about 11 percent of US households with a child under six.
34 Articles
34 Articles
The Billings Gazette
Affordability isn’t a hoax. It’s not a crisis for most, either
When someone tells you that they are struggling, a good rule of thumb is to take them seriously.
Hastings Tribune
Allison Schrager: Affordability isn’t a hoax. It’s not a crisis for most, either
When someone tells you that they are struggling, it is generally a good rule of thumb to take them seriously. So it was not the best political move for President Donald Trump to call the affordability issue a “hoax.” Too…
Gaslighting Bartiromo Parrots Trump, Calls Affordability A 'Hoax'
Dear Leader put out his talking points on the economy, and the propagandists on Fox "news" are more than happy to repeat them. Trump's numbers on the economy are in the toilet, and no amount of gaslighting by Trump and his enablers is going to change what people are experiencing in their everyday lives. But that won't stop the likes of Sean Hannity and Maria Bartiromo from trying to tell them how wonderful everything actually is. HANNITY: Okay, …
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