Economic data
First Signs Of A Deeply Frozen Housing Market
First Signs Of A Deeply Frozen Housing Market Authored by Milan Adams via Preppgroup, At a glance Existing-home sales have run roughly a third below their pre-2020 level for three years, while the median price has repeatedly set records - a combination that ordinary market logic does not predict. A large majority of outstanding mortgages carry rates below 5 percent. Selling means trading a cheap loan for an expensive one, and the households with the strongest finances are the least willing to make that trade. The housing shortage is a permission problem as much as a