US housing market experiencing historic affordability shock

Bloomberg in Builder Online
August 25, 2022
Category: Finance & Economics
Region: United States

Zonda chief economist Ali Wolf says the U.S. housing market is going through a “historic affordability shock,” with many markets experiencing home price appreciation between 50% and 70% compared with 2019. During an appearance with Bloomberg’s Taylor Riggs and BNN’s John Erlichman on “Bloomberg Markets,” Wolf said home price appreciation, coupled with higher mortgage rates and “economic angst,” is contributing to a slowdown in the housing market.

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