Major Domino Crashes Down on President Biden
Over the course of the past few weeks, the media has been concealing economic information. They are going to do everything in their power to defend Democrats as we approach closer and closer to the November elections.
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Inflation, high gas prices, and other financial burdens remain a problem for Americans. However, they continue to suffer from these issues. Another indicator that the economic downturn is already here to stay has just come to light. If the steadily increasing cost of ground beef or regular unleaded gasoline hadn’t already tipped you off that the economy isn’t doing so well, this should do it.
In July, there was a significant decrease of 9.6% in the number of new home constructions. This metric is used to determine how many new residential structures start construction each month. Even a modest decrease indicates that the economy is getting worse. When there is a downturn in the economy, the housing market is always the first sector to feel the effects (or a depression).
When times are tough, people tend to reduce the amount of money they spend. The more significant expenditures, such as homes and automobiles, are reduced first. After that, everything else happens fairly rapidly. These reductions require businesses to generate savings on their own accord. In certain situations, they let go of the maximum number of employees possible.
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Therefore, the significance of this figure should not be underestimated in any way. The number of newly released dwelling items fell last month. This holds true when compared to other data that have surfaced in recent times. Construction is being negatively impacted by inflation because the cost of everything is rising.
The housing bubble that existed in 2020 has long since burst. The cost of moving or purchasing a new home is just too high for the average American to take the risk of doing so. Whether or not Biden believes it, the other pieces will fall into place very soon. The ripple effects of Biden’s leadership just keep spreading further and further, folks.