• vinay_clubsall@lemmy.world
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    7 days ago

    Under Obama, during QE 1 2 3 etc., a lot of taxpayer (your and mine) money was given to banks interest free to buy up property to hold its value. Banks had nothing to lose, money was free. In other words, taxpayer money was used to reduce inventory which in turn jacked up housing prices that taxpayers could not afford. In a free market, housing should fall with affordability, instead here our money was made to work against us.

    So yes, democrats did contribute a lot to cost of living.