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Biden Is Making It Harder to Buy Homes — Just to Please Green Radicals and Wall Street
U.S. Senator Marco Rubio (R-FL)
May 12, 2024
…HUD is issuing a new “energy-saving” rule that will instead increase the cost of building homes for federally assisted buyers, despite already sky-high prices and a nationwide housing shortage…. Once again, the Biden administration is putting environmentalist lip service over real human beings….
Bloomberg claims new homes built under HUD’s rule will be more efficient…. But these outlets are downplaying the fact that the rule also raises the price of construction by up to $31,000 per home. With today’s interest rates, it could take a buyer as many as 90 years to break even on that through energy savings.
Young families looking to purchase starter homes with Federal Housing Agency mortgages will bear the brunt of this impact. Millions of them are already struggling to save amid runaway inflation…. HUD’s new rule also does nothing to address the greatest problem facing homebuyers across the board: our nationwide housing shortage….
HUD claims it’s advancing energy efficiency on behalf of “vulnerable communities,” but it’s really throwing a bone to multinational hedge funds invested in the “green transition” — as well as [environmentalist] fanatics…. Their ideology sees modern civilization as a cancer on the Earth and explicitly opposes new human life…., [and the] higher the cost of housing becomes, the more young people will decide against having children….
The United States, however, is not a sandbox for ideological fanatics…. There’s nothing wrong, of course, with wanting to increase energy efficiency. But when our leaders prioritize meeting arbitrary environmental benchmarks over solving our nation’s housing crisis and making life more affordable for normal families, you know they’re neglecting their duty.