Joe Biden has one awful plan that could end the American Dream for good

The American Dream is slipping further and further out of reach for many Americans.

Now the country is in an alarming state of decline during Joe Biden’s Presidency.

And Joe Biden has one awful plan that could end the American Dream for good.

The dream of homeownership is turning into a nightmare 

President Joe Biden has helped wreck the country’s housing market after he took office.

Opening the southern border and flooding the county with more than 10 million illegal aliens has sent the demand, and thus price, for housing soaring.

The Federal Reserve began hiking interest rates in a bid to lower the worst inflation in forty years.

Now mortgage rates are at their highest levels in decades in another punch in the gut for would-be homebuyers.

Many Americans are having to push off home buying because it has become so unaffordable.

And that’s delaying other major milestones in life, like getting married and starting a family.

Home prices are an all-time high nationally, and the Biden administration is planning on making the situation worse.

Biden proposed solving the crisis he created with a new $250 billion fund to build and repair two million homes for lower-income and middle-class families.

He also proposed giving first-time homebuyers a $10,000 federal tax credit.

Joe Biden’s big government proposals will make housing more expensive 

American Institute for Economic Research economist Peter Earle told the Daily Caller News Foundation that Biden’s housing proposals will make the situation worse.

“Subsidies of every sort distort market prices, discourage private investment, and result in misallocated resources,” Earle said. “On top of that, if the Biden housing assistance proposals go through without addressing the other sources of high prices — massive federal spending and crowding-out effects — it will result in little more than further price dislocations and misused resources — with a fresh layer of bureaucracy to boot.”

The federal government getting in the business of repairing and building homes – to solve a government-created crisis – would distort the housing market.

Heritage Foundation research fellow E.J. Antoni said the federal government building or repairing two million homes was another misguided policy.

“His plan to add 2 million homes is equally misguided because it would simply crowd out an equal amount of private sector construction by consuming the materials, labor, and equipment needed by homebuilders to supply the same quantity to the market,” Antoni said.

Biden is also driving up the costs of new homes with his war on climate change.

New regulations requiring more expensive energy-efficient appliances like furnaces, water heaters, and stoves will hit homeowners in the wallet to cut emissions.

“The latest nonsensical, so-called green energy regulation will add tens of thousands of dollars to the cost of a home and take about 90 years for the homeowner to recoup the additional cost,” Antoni explained. “Biden’s proposed subsidies to home buyers will only drive costs up further — this is Econ 101, for goodness’ sake! If you increase demand, prices will rise.”

The country is dealing with a housing shortage of up to seven million homes during the Biden Presidency.

Now Joe Biden wants to extinguish the last gasp of the American Dream with his socialist agenda.

*Renewed Right Official Polling*

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