The Frozen Market For Homes

The Frozen Market For Homes Authored by Jeffrey Tucker via The Epoch Times, Mortgage rates on a 30-year loan just hit 7 percent, intensifying problems on the demand side. Mortgages plus insurance—which turns a half-million dollar house into a $1.2 million house plus property taxes—became unaffordable for another class of buyers while already out of reach for most people. On the supply side, millions of existing homeowners are locked into COVID-era mortgages of 3 percent or lo...

By Tyler Durden