Latest Housing Data Are Clear: 'Bidenomics' Is Heading Toward a Crash | Opinion

Latest Housing Data Are Clear: 'Bidenomics' Is Heading Toward a Crash | Opinion - JUSTIN HASKINS

"In recent weeks, the Biden administration has ramped up its efforts to fool Americans into believing the United States has entered a golden era of economic prosperity.
"Here's what Bidenomics looks like," President Joe Biden said July 21 on Twitter. 

"Over 13 million new jobs, including 800,000 manufacturing jobs. Unemployment below 4%, the longest stretch in the last 50 years. Inflation has slowed every single month for the last 12 months."

As I've written previously, Biden's claims about job growth and unemployment are greatly exaggerated. A fair look at the evidence shows most of the economic gains that have occurred in Biden's first term are due to the COVID-19 lockdowns ending, something the White House deserves very little, if any, credit for.
Even more important, however, is that Biden has failed to acknowledge the growing amount of economic data signaling the country could soon enter an economic recession. 

One of the most overlooked and reliable indicators—housing data—suggests the emerging recession could end up becoming the largest in six decades.
...but those rapid increases came with an important caveat: whenever housing prices increase as quickly as they have in recent years, an economic, stock market, and/or housing crash is almost certain to follow...