Reported 1 day ago
Meredith Whitney, known as the 'Oracle of Wall Street' for predicting the 2008 financial crisis, has raised concerns about the current state of the U.S. housing market, citing demographic factors as a significant issue. She points out that approximately 60% of homes are owned by individuals over 55, many of whom are unable to downsize due to financial constraints and a lack of affordable alternatives. Whitney's observations echo wider concerns that the housing market is 'frozen,' leading to high home prices and making homeownership increasingly difficult amidst rising interest rates.
Source: YAHOO