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Nearly three-quarters of Americans say owning a home is a higher measure of achievement than having a successful career, raising a family or earning a college degree, according to a new survey.
Record high housing prices and rising mortgage rates are causing the housing market to cool. For the 3rd straight month, sales have decreased at the slowest pace since the earlier months of the pandemic.
Despite the recent cooling, Home prices still rose more than 20% Year-Over-Year, which is the biggest surge in 35 years.. and you know our incomes haven’t risen that much.
What’s even more interesting is that Spring, or the last season, usually sees the majority of home sales on average during the year, typically about 40% of home sales happen in Spring time happen between March and June!
In our last episode, we covered how it’s getting really hard to buy homes, especially for first-time home buyers… Although the market is cooling and we’re seeing some price decreases, the prospect of buying a home is still a distant dream for many of us. There is less housing available for rent and sale than at any time in 30 years, and things are only getting worse. This undersupply is concentrated in the lower end of the market, and as a result homelessness has become one of the big problems in booming cities.
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