I totally envision Trump renaming the San Andreas Fault to Joe Biden’s Fault, and I am just putting this out there so I can say I predicted it one day.
My coworker bought a basic 2-bedroom starter house for $210,000 in 2018 with a 3.2% interest rate.
His monthly payment was $1,150.
His younger brother just bought the exact same floor plan in the same neighborhood for $390,000 at a 6.8% interest rate.
His monthly payment is $2,700.
The brother earns $25,000 more a year than my coworker did at his age, but has half the purchasing power and zero disposable income.
We didn't just experience inflation. We witnessed the complete destruction of generational wealth building in under six years.