Prospective Homebuyers Face Another Year Without Affordability Relief

Prospective Homebuyers Face Another Year Without Affordability Relief Goldman economist Ronnie Walker has some bad news for prospective homebuyers: while the housing market appears soft but broadly stabilizing, affordability pressures are unlikely to abate anytime soon. Walker expects mortgage rates to remain elevated through next year, while national home prices are still forecasted to rise modestly. That means buyers waiting for a price correction or lower rates may be disappointed, as the market remains locked in an ultra-low-turnover environment where high borrowing costs, limited affordability, and sticky prices keep many folks...