Housing Market Squeeze: High Prices, Rates Put Homeownership Out of Reach for Many

High mortgage rates and home prices make housing unaffordable for many buyers.

Incomes are unlikely to rise fast enough to offset the 58% increase in housing costs over the past year.

Low housing supply and high demand have driven prices up, but a downturn could increase foreclosures.

The Federal Reserve plans to keep interest rates high, reducing housing demand.

Multiple factors like mortgage rates, incomes, supply, demand, and foreclosures will determine if housing prices fall.