."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."Biden's claims about job growth and unemployment are greatly exaggerated
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.
For the first time in history, the 12-month increase in home prices topped 15 percent for seven quarters in a row, beginning in the second quarter of 2021. The evidence on this point is well established. In the 1970s, late 1980s, and in the early to mid-2000s, there were similarly large, sustained growths in housing prices. In every case, a large recession followed. And although the rule doesn't always apply perfectly, it tends to be that the bigger the increase in housing prices is, the harder the economy falls.