Check out Mike Carr’s top charts from last week, including a bonus chart on the state of the housing market:
The Most Significant Problem for the Housing Market
The problem is simple: Two-thirds of existing mortgages are at 4% or lower.
Today’s average rates are about 7%. That’s the other problem.
Many homeowners with rates under 4% don’t want to sell. They have a low rate and would have to move into a less expensive home to keep their mortgage payment the same.
Bottom line: For the next few years, the supply of homes available to buy will be limited by the lack of willing sellers.
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