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Tags: inflation | biden | yellen | housing | energy

Rep. Emmer to Newsmax: Biden Admin Has Housing 'Backwards'

By    |   Monday, 24 June 2024 08:39 PM EDT

Member of the House Financial Services Committee Tom Emmer, R-Minn, told Newsmax on Monday that the Biden administration has it "backwards" with regard to the nationwide housing affordability.

During an appearance on "The Record with Greta Van Susteren," Emmer said that the policies approved under President Joe Biden have led to ever-increasing home prices.  

"This administration" — Treasury Secretary Janet Yellen —  "got it backwards," Emmer said. "She said a supply crunch has caused an affordability crisis. In fact, the affordability crisis that Joe Biden and his record-setting double-digit inflation ... is what put us here in the first place. You talked about it briefly: You raise prices on the cost of goods and services, it gets more expensive to build a house, and you have to sell it for more. You've got a 20% increase since Joe Biden took office."

Before the interview, Emmer was prompted by a clip of Yellen, who, on Monday, announced a $100 million fund for affordable housing.

Emmer took offense to the announcement, adding that $100 million is "a drop in the bucket" and a political play right before an election.

As a solution to the inflation crisis, Emmer suggested that making America "energy independent again" could help ease consumers' pain.

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Nick Koutsobinas

Nick Koutsobinas, a Newsmax writer, has years of news reporting experience. A graduate from Missouri State University’s philosophy program, he focuses on exposing corruption and censorship.

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Member of the House Financial Services Committee Tom Emmer, R-Minn, told Newsmax on Monday that the Biden administration has it "backwards" with regard to the nationwide housing affordability.
inflation, biden, yellen, housing, energy
256
2024-39-24
Monday, 24 June 2024 08:39 PM
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