What demographic is expected to shift towards first-time home buyers?
Housing Starts to Fall Another 9%: MBA Chief Economist
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The video discusses the current state of the housing market, highlighting a decrease in housing starts and permits due to high mortgage rates and home prices. Builders are responding to reduced demand by slowing construction. Mortgage rates have recently decreased, which could impact the market positively, especially for first-time buyers. Predictions suggest a slight decline in home prices by the end of 2023, with existing homeowners less likely to sell due to low distress levels and high equity.
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What is the current state of the mortgage delinquency rate?
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