Annual price growth in the increasingly fragile U.S. housing market slid into the single digits in October for the first time in about two years when mortgage rates that month surged above 7% and further stifled demand, a pair of closely watched surveys showed on Tuesday.
The House Oversight Committee is taking a deep dive into the events surrounding the COVID-19 pandemic, and Rep. James Comer (R-KY) says they are starting from the bottom and working their way up.
Economic researcher for the Center for Data Analysis at The Heritage Foundation EJ Antoni said "higher interest rates," as well as "a lower real income," have cost American families $7,100.
A lot of consumers have a very gloomy outlook about the market due to news of mass layoffs, high inflation, and rising credit card debt, according to a new survey that shows 41 percent of Americans believe the housing market will crash next year.