Homeless at historic rate under Biden-Harris
According to data from the U.S. Department of Housing and Urban Development (HUD), since the end of the pandemic, we have experienced an average of 10% a year growth in homelessness. By the end of 2023, the U.S. hit its highest reported level in history.
Over 653,000 Americans were homeless when this survey was conducted. In the first decade the survey was performed, homelessness in the U.S. steadily decreased from 637,000 in 2007 to 554,000 in 2017. This was mainly due to low interest rates and lower inflation than we have today.
Mortgage rates decreased from 4.09% to 2.77% between Jan. 19, 2017, and Jan. 21, 2021, the time of Donald Trump’s term in office. Since Biden-Harris took office, mortgage rates have mushroomed to 7.09% for the average 30 year loan.