Reported 17 days ago
Morgan Stanley's U.S. housing strategist, James Egan, discusses the persistent high home prices and a significant decline in housing activity despite restrictive monetary policies. He attributes this to the 'lock-in effect' limiting homeowners' willingness to sell due to rising interest rates, as well as challenges faced by first-time buyers, emphasizing that the lack of affordable inventory keeps many renters in place, contributing to upward rent pressures.
Source: YAHOO