Great video on the US housing market, here are the key takeaways The US housing market is frozen due to a number of factors, including: 1) Rising interest rates: In 2021, a home buyer with a 20% down payment and $2,500 a month to spend on their mortgage payment could have bought a $758,000 home. Today, the same mortgage payment would only buy a $424,000 home. This has made housing unaffordable for many buyers. 2) Low supply of homes: The number of homes listed for sale is at a 40-year low. This is due to a number of factors, including a shortage of building materials and labor, and a reluctance on the part of homeowners to sell their homes and lose their low interest mortgages. 3) High house prices: Despite the decline in affordability, house prices are near record highs. This is because there is a low supply of homes on the market. These factors are having a negative impact on the housing market, as well as the broader economy. Home builders are building fewer homes and hiring fewer tradespeople. Real estate agents are also experiencing a hit to their earnings. There are a few ways that the housing market could find its balance: House prices could fall: This could happen if home builders increase supply or if sellers who bought their homes many years ago come to the market. Interest rates could decline: The Federal Reserve has already hinted that rate cuts are in the pipeline for next year. Disposable income could rise: This would make housing more affordable for buyers. This is an interesting time to be in the real estate business! https://lnkd.in/ehk5qttg