Home Affordability
U.S. Senator Elizabeth Warren (D–MA) claims that “under Donald Trump, the median age of a first-time homebuyer hit a record 40 years old.”
IN FACT, the figure cited by Warren is from a survey conducted “July 2024 to June 2025,” and more than half of this period was under Biden. During Biden’s presidency, the median age of first-time homebuyers rose from 33 to 40 years old, a larger increase than the entire rest of the data series back to 1980.
Association ≠ causation, but the following policies embraced by Biden, Warren, and other Democrats have contributed to making homes unaffordable:
- Increased government spending on social programs, which triggered money printing that inflated the prices of real estate while reducing people’s ability to save for a home.
- Growing levels of immigration, which drove up housing prices and rents.
- Passing government regulations that have greatly increased the costs of goods and services, particularly housing and especially in regulation-heavy areas like New York City and California.
- Multiplicative increases in education spending that have raised property taxes while failing to substantially improve student achievement.
- Enacting green energy mandates that have raised the costs of energy and virtually everything else.
- Socializing the costs of housing, which “puts upward pressure on home prices.”
- Promoting liberal ethics about sex, which creates household fragmentation that dilutes family wealth.
- Giving unions monopoly powers that raise construction prices and taxes.
