Foreclosure filings have skyrocketed as home prices in the United States continue to rise. The report comes weeks after Trump declared at the G7 summit that affordability was “a fake word made up by the Democrats.” Trump has blamed the inflation rates of his current term on the economy he inherited from former President Joe Biden. The number of foreclosures remains below the peak of the 2008 housing crisis, during which 2.9 million foreclosures occurred in one year. However, experts remain concerned that high mortgage rates, property taxes, and insurance costs are driving up the price of rent.