Reported 8 months ago
The housing market is experiencing challenges as both rent prices and mortgage rates are on the rise, affecting homeowners, landlords, renters, and more. Despite Lennar's second-quarter earnings report showing better-than-expected revenue, they had to cut home prices. The strain is increasing for both renters and potential homebuyers, with rent growth remaining flat due to increased supply. However, high rent prices complicate the Federal Reserve's aim to lower housing costs, and limited inventory and high mortgage rates are keeping more people in the rental market longer.
Source: YAHOO