As inflation surges to levels not seen since the 1980’s, home buyers dreams are slashed. Diana Click for CNBC states “It is clearly due to the plunging affordability,” said Lawrence Yun, chief economist for the Realtors.
“We have never seen mortgage rates shoot up this fast at this magnitude. Even people who want to buy, they are priced out.”
Here is a link to the CNBC article:
June home sales fall 5.4% from May, as prices set yet another record
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