How Rising Mortgage Rates Are Affecting the Housing Market

How Rising Mortgage Rates Are Affecting the Housing Market

The authors note that the effect of mortgage rates on housing is not all that different for the two mean years of the SDR, but that while the average U.S. household was getting equal or better rates in the U.S. and Canada in 2012, the good news is that when the SDR is compared to the median, the average home prices in both regions were about the same.

“While the housing market has been relatively stable over the last half century, as the mortgage interest rate and housing supply have increased, the price of housing has been shifting to the ‘don’t worry’ position,” the authors write. “The increase in home prices since the mid-1990s has resulted in a range of regulatory changes that have led to a redistribution of housing from one region to another, thereby creating a national housing crisis.”

This paper and others are intended as a thoughtful discussion of what’s at stake, particularly for the 20-21 year olds in the midst of a housing downturn. As a first step, it is important to understand the dynamics that drive current economic and housing policy, and what the role of foreign rules and regulations in bringing the housing market to inroads for middle-aged households. The authors suggest that policymakers should seek to achieve better outcomes by following the path of the SDR.

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