Rising Rates Are Killing The Housing Market

There is no way to soften the blow in the housing market.

Things are starting to turn pretty ugly and rising interest rates are at the core of it. Affordability becomes an issue when rates increase simply because people do not "buy a house, they buy a payment". This means that increasing rates drive up payments.

Also, much of the activity of late is people who buy homes to turn into rents. This diminishes supply while driving up rents. The first time home buyer is priced out of the market. This is why many potential first time home buyers are still living at home.

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