The reason why home prices in the United States are falling is quite simple: Affordability under pressure. A historic shock to mortgage rates – with the average 30-year fixed mortgage rate rising from 3% to 6% this year – following the 41.3% surge in US house prices in just over two years has simply pushed …
When a Fed economist says the U.S. housing market has entered a “difficult [housing] correction”, it would be wise to believe them. When it comes from the mouth of Fed Chairman Jerome Powell, it’s more of a warning. Powell is right: not only is real estate activity continuing to fall, but U.S. home prices are …
According to the Bureau of Labor Statistics, some cities and states are fighting the ongoing inflation crisis in the United States better than others. On Thursday, it was reported that inflation had moderated in the United States last month, a sign that the price increases that have hit Americans are easing as the economy slows …
