The Housing Market Needs a First Time Buyer

Existing home sales that outside of COVID are near the lowest level since 2011. Affordability is still the overriding issue, both in terms of the price of a home rising 40% over the past couple of years and a doubling of mortgage rates. Unless you get that first time buyer, you sort of clog up the housing industry,. And right now we're not seeing really any give on either.