According to Redfin, homebuyer mortgage payments have gone up 43% year over year and that has spilled over to increased rent payments as well. Yes, minimum wages were increased a tiny bit but how are people supposed to keep up with this surge in housing pricing?
We think most would agree that we expect to see action from the administration to provide relief on this current inflation crisis. We are paying the consequences of the massive influx of printed money during Covid. Consumer spending money that made it's way back to Large Cap Stock companies is now evaporating in the stock market.
Like everything else this too shall pass, but I do feel more awareness and mostly attention is needed to this crisis happening right under our nose. Meanwhile the wealth gap also continues to grow as we ignore the consequences that may erupt.
Disclaimer from author: I'm not pointing fingers at any specific political party or individual, just stating the facts and sharing my views. Any information in this post does not constitute financial advice.
Gaetan Policard
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