Reported about 2 months ago
In a recent analysis, Morgan Stanley's housing strategist Jim Egan identified four key factors obstructing the recovery of the housing market, particularly emphasizing the high mortgage rates, which are currently around 6.5%, making it unaffordable for many potential homebuyers. This presents significant barriers for first-time buyers, who face the toughest affordability conditions in over three decades, limiting their ability to enter the market.
Source: YAHOO