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The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist
The pandemic’s housing boom is finally running on fumes. Home sales are falling. Inventory levels are rising. And home sellers are cutting list prices at the fastest clip since 2019. This Great Deceleration is a lot bigger than a seasonal cooldown. The economic shock of higher mortgage rates means borrowers are getting stretched thin to a degree unseen since 2006. That’s why home […]
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The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist
This Great Deceleration is a lot bigger than a seasonal cooldown. The economic shock of higher mortgage rates means borrowers are getting stretched thin to a degree unseen since 2006. That’s why home shoppers in April and May finally balked at record home prices. This shift, Moody’s Analytics chief economist Mark Zandi tells Fortune, is the start of a full-blown housing correction. Zandi predicts […]
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Big landlords jump into the homebuilding business as demand for single-family rentals surges
KEY POINTS: The push comes as more Americans have the flexibility to work from anywhere and are looking for larger spaces with outdoor areas. According to the National Association of Home Builders, there were 13,000 new single-family homes started as rentals in the first quarter of this year, up 63% from a year ago. Homes-built-for-rent […]
