Housing Market Hardships

This chapter explores the challenging state of the housing market marked by rising mortgage interest rates that have surged to 6.42%, pushing many buyers toward renting due to skyrocketing monthly payments. It discusses the implications of increasing rent prices and deteriorating rental conditions, particularly for lower socio-economic groups, as well as the growing inventory shortages faced by average homebuyers. Furthermore, the chapter touches on the broader economic consequences of these housing trends, including the potential risks posed by international markets, particularly China.