This chapter discusses the impact of rising interest rates and inflation on home affordability in the United States, highlighting the decrease in house affordability, increase in housing costs, and drop in personal savings rate, leading to a grim outlook for the housing market.
The current U.S. housing market is plagued by soaring interest rates and dwindling affordability for millions of Americans. Plus robust consumer spending and rising debt is raising concerns about the long-term stability of the economy. Get the facts first on Morning Wire.