WASHINGTON, DC—U.S. Representative John Rose took to the House Floor Tuesday to highlight the impact of rising inflation on those hoping to buy a home.
The full remarks, as prepared for delivery, are below:
Mister Speaker, affordable housing continues to be a problem for Tennesseans. And unfortunately, it’s getting worse. The cost of owning a home continues to climb, putting the American Dream out of reach for millions.
In fact, 86% of Americans under 30 say they’re concerned about the price of buying a home. The cost of a new home in February 2020 averaged $332,000. Now, 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% prior to this administration. It’s risen by 20% since. In Tennessee, families are paying $22,277 more a year, on average, for the same goods they were buying as in January 2021. This makes buying a home that much more difficult. Mister Speaker, it’s time for this administration to put the credit card down and enact policies aimed at restoring the American Dream.
You can watch the speech here.
This is a companion discussion topic for the original entry at https://johnrose.house.gov/media/press-releases/rep-rose-highlights-impact-bidenomics-affordable-housing