This sounds not good...
I’m glad my mortgage is paid-off, and I have no intention of going anywhere.
Strongest economy eva
The only problem is that renovation projects are also sky rocketing in price.
I should have gotten my kitchen done three years ago.
We’re all gonna die.
The mortgage rate has more than doubled.....making monthly payments much worse.....so new home construction and sales have plummetted.....but house prices still have not come down.
Until the prices come back down you’re not going to see a recovery in new home construction or in sales. In the market I live in, prices increased 66% in the last two years. I’m sure as hell not going to buy with sky high prices and much higher interest rates. I can wait. I know several others who are in the same boat. We’ll just sit on the sidelines until buying conditions improve.