From Your Home to the Grocery Aisle, You Deserve Prices You Can Afford
Whether you’re buying a home, renting an apartment or filling a shopping cart, a Democrat Congress made it more expensive.
Housing: Better Prices for Buyers and Renters Under a Republican Congress
FACT: Buyers and renters alike see better prices under a Republican Congress.
- Home prices rose 29.8% under a Democrat Congress, compared with 4.2% under a Republican Congress.
- 30-year mortgage rates climbed 2.67 points under a Democrat Congress and fell 0.42 points under a Republican Congress.
- The monthly payment on a new $400,000 mortgage went up $618 (about $7,413 a year) under a Democrat Congress and down $112 (about $1,340 a year) under a Republican Congress.
- Rent increases were cut by 40%: 7.7% under a Democrat Congress, 4.5% under a Republican Congress.
Groceries: A Republican Congress Saves You More Than You Think
The average price of everyday items is also changing for the better. Under a Democrat Congress, the price of eggs doubled. Under a Republican Congress, eggs fell 56%, and butter, bacon, bread and chicken came down, too.
FACT: Monthly grocery bills are rising far more slowly under a Republican Congress. The average household’s grocery bill grew by about $206 a year, compared with $830 a year under a Democrat Congress.
Sources: BLS CPI-U and average price data; BLS Consumer Expenditure Survey; Freddie Mac PMMS; S&P CoreLogic Case-Shiller; all via FRED.
What It Means for Your Budget
If you want to keep housing and grocery costs in check – and not go back to doubling egg prices and $600 jumps in mortgage payments – be a voter.
