US: no miracle solution to the housing problem

Excessive inflation can be as much a political problem as an economic one. If the cost of living is too high, or perceived as such by households, it is tempting to blame the government in power. Donald Trump used this as an argument against Joe Biden during the 2024 presidential campaign. The Democrats want to turn the tables ahead of the mid-term elections. The debate revolves largely around the conditions for accessing home ownership. House prices have soared since the pandemic, incomes have not kept pace and borrowing rates are high. The White House is very active on this issue, but there are few quick ways to change the situation.