Home Prices and Rents Remain High by @JCHS of Harvard University

Home Prices and Rents Remain High, as Steep Interest Rates
Lock Homeowners in Place and Slow Construction

"The sharp interest rate hikes over the past year continue to impact housing markets and affordability for both homeowners and renters across the US, according to a new report released today. Rising mortgage costs have pushed homeownership out of reach for millions of renters at a time when large numbers of millennial households are at prime homebuying ages and when homeownership disparities between white households and those of color are near historic highs. Higher interest rates have also sparked a slowdown in the construction of new single-family homes, even as a nationwide housing shortage contributes to high housing costs."...read the rest @JCHS of Harvard University.