Pat Metzger, a parishioner of St. John Vianney in Goodyear | Provided Photo
Pat Metzger, a parishioner of St. John Vianney in Goodyear | Provided Photo
Pat Metzger, a Goodyear resident and member of the St. John Vianney parish, said the current interest rates make buying a house "out of my reach" and also make renting difficult for individuals and families.
"Interest rates make buying out of my reach and rents impossible for a single person or a family," Metzger said. “I bought in 2017 with a 4% interest rate, so this is not affecting me now."
“If I had to rent or buy today, I would have to find a roommate," he said. "Prices seem stable, but the current rates make it difficult.”
Housing prices have risen 47.1% since January 2020 affecting Americans across the country.
Not only have homes become more expensive, but the supply of housing has also dropped 34.3% since before the pandemic.
Higher mortgages and elevated interest rates also make homeowners less likely to sell their houses, further creating a deficit in the market.
As mortgages increased, so has rent for many Americans who cannot afford a house yet. Rent has increased 22.25% since March of 2020.
While the cost of living has greatly increased for Americans, wages have stayed stagnant. People can no longer afford to live within the means that they are used to because incomes have not expanded at the same rate as the cost of living.
“The most absurd thing that Kamala says at her rallies is that on day one I’m going to tackle the food and housing affordability crisis in this country. Day one for Kamala Harris was three and a half years ago and everything that she has done has made the affordability problem worse,” said Vice Presidential Nominee JD Vance in an interview with Fox News.
Vance made similar comments in another recent interview, “Why aren’t we talking about inflation? Why aren’t we talking about the fact that groceries are unaffordable thanks to Kamala Harris’ policies? And so is housing. We’ve talked a little bit about the border, why aren’t we talking about the fact that the entire world is on fire because of Kamala Harris’ foreign policy, she’s just asleep at the wheel.”
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