• Interest rates spike has made it unaffordable to buy a home.
  • Mortgages are at 7% or higher, making it difficult for people to afford houses similar to before.
  • Consumer confidence is plummeting, potentially contributing to the low interest in home-buying.
  • The low interest in buying homes is an economic indicator of shakiness in the market.
  • People may not be able to move because they can't afford to buy a new home and sell their current one.

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