The Frozen US Real Estate Market.

Patrick Boyle On Finance

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5M ago 20:31

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Higher mortgage rates should be expected to depress the housing market, and the US has just seen one of the steepest rate increases in history.
Would-be homebuyers are facing massive sticker shock, with measures of affordability worsening at the fastest pace on record. The US real estate market has frozen up with the volume of new sales slowing at a faster pace than even during the aftermath of the global financial crisis.
Does this mean that home prices are about to collapse? Will we see a repeat of the Global Financial Crisis of 2007-2008?
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