Posted 4/8/2024, 3:47:13 PM
Higher Mortgage Rates Put Pressure on Housing Market, But Cash Buyers Still Active
- Higher mortgage rates could lead to lower housing prices, but cash buyers are still active in the market
- Seniors facing financial strain may need to downsize, putting more supply on the housing market
- Over 90% of homes are owned by households over 40 years old
- Biden proposed a small $10,000 tax credit for home sellers that may not incentivize much
- Meredith Whitney still believes the US can avoid a recession in 2023 due to high-end consumer spending and government spending increases in an election year