Payne, host of “Making Money,” noted Federal Reserve Chairman Jay Powell raised interest rates 0.75%, which will cause some debtors to hit the brakes on taking out loan.
With the average home price dropping nearly $ 100,000 in two months, rents skyrocketing and inflation causing companies like McDonalds to increase prices, Payne argued the collective effect has been the dissolution of the American dream:
“You know what the sad part is? A large part [of the population] is already pushed out, right. There are no starter homes and all the houses have been being bought by Wall Street, more recently, by foreign buyers, by second buyers, by cash buyers. This makes it prohibitive,” he said.