Home Foreclosures Reach Unprecedented Levels as Biden Touts ‘Strong Economy’

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Home Foreclosures Reach Unprecedented Levels as Biden Touts 'Strong Economy'

As Joe Biden continues to claim economy is somehow making a comeback, home foreclosures are soaring across the nation.

As more Americans struggle to afford the basic necessities needed to survive, many are losing their homes and livelihoods under Biden’s watch.

Biden is so deluded; he believes Americans living from paycheck to paycheck are the ones detached from reality.

While Biden claims his so-called “Bidenomics” is a success, 61% of Americans are struggling, and 75% of U.S. adults think the economy is in a “fair” or “poor” state.

Fox Reports:

Home foreclosures rose again in February as Americans continue to grapple with the ongoing cost-of-living crisis.

That is according to a new report published by real estate data provider ATTOM, which found that there were 32,938 properties in February with foreclosure filings, which includes default notices, scheduled auctions and bank repossessions. That marks an 8% increase from the prior year, although it is down 1% from the previous month.

“The annual uptick in U.S. foreclosure activity hints at shifting dynamics within the housing market,” said ATTOM CEO Rob Barber. “These trends could signify evolving financial landscapes for homeowners, prompting adjustments in market strategies and lending practices. “…

Housing affordability is the worst it has been in decades, thanks to a spike in home prices and mortgage rates. Combined, the two have helped to push the typical salary required nationwide for homeownership up to $106,500 — a stunning 61% increase from the $59,000 required just four years ago, according to Zillow.

Biden is touting an |”economic comeback,” which has failed to materialize.

During his State of the Union address earlier this month, Biden said:

“I inherited an economy that was on the brink,” Biden told a packed chamber at the U.S. Capitol.

“Now our economy is the envy of the world.”

As NPR reported:

Polls show that many voters disapprove of Biden’s handling of the economy, despite strong job gains, low unemployment, and faster GDP growth than many forecasters had expected.

Inflation has also cooled significantly since hitting a four-decade high in 2022. But high prices remain a source of frustration for many voters and a potential liability for the president.

READ: ‘Bidenomics:’ Another Major Retailer Files for Bankruptcy

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