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Housing Affordability Is Key
- Housing affordability tightly links home prices to incomes and interest rates.
- Prices must adjust to incomes for the market to remain sustainable.
Economy Dependent on Asset Prices
- The economy now heavily depends on inflated asset prices.
- Even small declines in housing can cause disproportionately large economic harm.
Huge Housing Market Value Risks
- The U.S. housing market's value reached $50 trillion in 2024.
- A mere 2% decline would erase $1 trillion in purchasing power instantly.