Corporate media monster Newsweek has built a reputation in recent years of being completely compromised by Democrats. Their articles, which were at least partially unbiased near the beginning of the century, have devolved into cheerleading for all things the left loves and panning anything even remotely conservative.
This has translated into their avoidance of any news that could implicate Democrats, particularly the Biden-Harris regime. But the numbers surrounding new and used car pricing since 2020 were so insane that even Newsweek made an exception to their denial-of-the-obvious rules.
According to a recent article:
Since 2020, new car prices have risen by 30 percent, according to data shared by AI car shopping app CoPilot with Newsweek. Within the same timeframe, used car prices have jumped by 38 percent.
30 and 38 percent in just over three years is not only unprecedented, it’s untenable. And while prices seem to have hit their peak (Lord willing), they’ve done so at a level far beyond what most Americans can realistically afford.
According to an October report by Market Watch, Americans needed an annual income of at least $100,000 to afford a car, at least if they’re following standard budgeting advice, which says you shouldn’t spend more than 10 percent of your monthly income on car-related expenses.
That means that more than 60 percent of American households currently cannot afford to buy a new car, based on Census data. For individuals, the numbers are even worse, with 82 percent of people below the $100,000 line.
What’s driving these price hikes? For one, the push by the regime to force-feed electric vehicles down our throats has not only increased the average price for vehicles but has also made gas-powered vehicles less available, driving their prices up based on demand. Is this a side-effect the regime didn’t see coming? Were the powers-that-be caught off guard by this development?
No. This is by design. Making cars unaffordable for average people isn’t just about their climate change agenda. It’s about putting people in a position where the tenets of The Great Reset are more acceptable.
“You will own nothing and you’ll be happy,” they say.
Making ownership of reliable vehicles a luxury changes the paradigm for necessity. For decades, owning a vehicle opened doors to more opportunities inherent within the American Dream. By denying the privilege through inflation, the powers-that-be are cornering people into accepting the traps of such goals as 15-Minute Cities, dependence on government for basic needs, and Marxist-driven class warfare.
In other words, unaffordable cars aren’t a glitch. They’re a feature of the new normal.