Bank of America: Housing Market Challenges Expected to Persist Until 2026
Realty Business Blog04 Jul, 2024Business
Michael Gapen, the head of US economics at Bank of America, says there?s no quick fix for this situation. The main advice for new buyers is to be patient, despite the frustration.During the COVID-19 pandemic, home prices spiked, and the Federal Reserve?s actions to combat inflation caused mortgage rates to soar. This combination has made it one of the most difficult times to buy a home.
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