High interest rates mean a lot of people can't afford to buy a house.
As for the severe housing shortage - evict the illegal alien invaders The Biden Regime and Black Rock have subsidized, and send them back to wherever they crawled out of.
“High interest rates mean a lot of people can’t afford to buy a house.”
The home at 1 Typical Lane is sold for $350,000.
The Buyers shall pay $200,000 of the purchase price with a 7% loan.
The Buyers furthermore will pay for an additional $50,000 interest when mortgage rates fall below 6.1%.
The Buyers furthermore will pay for an additional $50,000 interest when mortgage rates fall below 5.2%.
The Buyers furthermore will pay for an additional $50,000 interest when mortgage rates fall below 4.2%.
“illegal alien invaders”
Yes, you hardly ever read how five to eight million illegal alien invaders distort the housing market. That number implies a demand for maybe two million apartments (four invaders per apartment)?
There are 22 million apartments in the US, so those invaders alone represent an increased demand of 10% (ignoring other changes in population that wants to rent an apartment). That 10% increase is a huge distortion of the market and causes rents to go up.
That is NEVER discussed.