Sen. Lee on ‘Failures’ Contributing to ‘Sudden, Abrupt, and Severe Rise’ in Housing Cost During Biden Admin

In his opening statement at a Senate Judiciary Committee hearing on “Examining Competition and Consumer Rights in Housing Markets” on Oct. 24, Sen. Mike Lee (R-Utah) talked about the rapid decline in housing affordability in the United States since President Joe Biden took office on Jan. 21, 2021. “We’ve never seen anything this bad since we began keeping those records,” Mr. Lee said. He also listed a number of key “failures” that may contribute to the “sudden, abrupt, and severe rise in housing cost.”