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Interest rates have approximately doubled from 2% to 4-5% for a 10 year. That increase the PI payment by 50%, pushing all houses into a higher income bracket for potential buyers. 30 year rates are nearly

Housing starts in July 22 were down almost 10% from from June 22 and about 9% below July 21.

https://www.census.gov/construction/nrc/pdf/newresconst.pdf

2 years ago
1 score
Reason: Original

Interest rates have approximately doubled from 2% to 4%+. That increase the PI payment by 50%, pushing all houses into a higher income bracket for potential buyers. Housing starts in July 22 were down almost 10% from from June 22 and about 9% below July 21.

https://www.census.gov/construction/nrc/pdf/newresconst.pdf

2 years ago
1 score