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OPINION: This article may contain commentary which reflects the author’s opinion.
Economic conditions under President Joe Biden continue to worsen heading into the 2024 campaign cycle, as everything continues to become much more expensive as his term continues, including Christmas trees.
According to the Fox Business Network, which cited the American Christmas Tree Association, “the average price of a Christmas tree is up 10% more than last year, with trees averaging between $80 and $100 this season.”
The organization contends that artificial Christmas trees will incur even higher costs than real trees, with prices ranging widely from $85 to $1,000 or beyond.
“According to our 2023 survey, 52% of artificial Christmas tree owners purchased their tree for under $200, and 27% paid $200 to $400,” Jami Warner, executive director of the American Christmas Tree Association, told FBN. “For artificial Christmas trees, costs vary depending on the producer, retailer, size, shape and features such as pre-lit options.”
The outlet noted further:
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The price hike follows a recent poll from the ACTA which found that despite 78% of consumers expressing concern over inflation, 94% of consumers say they plan to display at least one Christmas tree in their homes this holiday season, while 77% said they would display an artificial tree in their home instead.
“We always recommend that consumers shop early to get ahead of the holiday rush and find the décor, type, and style of Christmas tree that best fits their needs,” Warner told FBN. “This year, we’re seeing many consumers – especially those concerned about inflation – purchasing their décor well before the typical shopping seasons of November and December.”
Of course, it’s not just holiday items that have gone up in price; the cost of virtually everything Americans need most has skyrocketed under Biden, especially housing.
The Average American now needs to earn an eye-watering $115,000 per year just to be able to afford a house, up from $99,342 last year for a median-sized home, the UK’s Daily Mail reported.
“Latest data from real estate company Redfin has revealed that prospective homebuyers need to earn a salary of $114,627 – up 15 percent from a year ago and up more than 50 percent since the start of the pandemic,” the outlet said. “This is about $40,000 more than the income of a typical household. The average worker’s salary was around $75,000 in 2022 – the most recent US Census Bureau data available.”
While hourly wages have gone up around 5 percent over the past year, that isn’t nearly enough to keep pace with the rapidly rising cost of housing, the availability of which is declining significantly as well.
“The typical US home sold for about $420,000 in August, up 3 percent year over year and about $12,000 shy of the all-time high hit in mid-2022, according to Redfin,” the Daily Mail noted, citing the data.
In August 2012, Americans needed to earn less than $52,000 annually to be able to afford a median-priced home. “Median” is based on around 30 percent of annual income, RedFin notes.
Meanwhile, in addition to sky-high housing costs, interest rates in the Bidenomics era have skyrocketed as well and now average around 7.7 percent. The Federal Reserve began raising rates last year to combat historically high inflation rates as Biden and a Democrat-led Congress increased federal spending by trillions, which many economists said contributed to inflationary pressure.
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“In a homebuyer’s ideal world, rising mortgage rates would push demand and home prices down enough to make up for high-interest payments,” Redfin economics research lead Chen Zhao said, per the Daily Mail.
“But that’s not what’s happening now: Although new listings are ticking up slightly, inventory is still near record lows as homeowners hang onto their low mortgage rates–and that’s propping up prices,” she said, adding: “Buyers – particularly first-timers – who are committed to getting into a home now should think outside the box.”
“Consider a condo or townhouse, which are less expensive than a single-family home, and/or consider moving to a more affordable part of the country or a more affordable suburb,” Zhao noted.
