At the Republican National Convention, Ohio Senator JD Vance denounced the ‘Wall Street barons’ for having caused an economic crisis that has driven up property prices, making the purchase of a home unaffordable for many. He attributed this rise to the bankruptcy of American manufacturers and wage stagnation, following the economic collapse caused by the financial tycoons.
Vance also criticised the Democrats for allowing the entry of millions of illegal immigrants, intensifying competition for housing. He called inflation under the Biden administration an affordability crisis, exacerbating pressure on household spending on essentials, particularly rent.
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