Home prices could drop 5% next year if mortgage rates stay at 2-decade highs, Morgan Stanley says

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reduced house price
The 30-year fixed mortgage notched 8% this week, its highest level since the year 2000.

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House prices may climb further – but slide next year if mortgage rates stay at 8%, says top strategist

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US home prices could rise in the short term but drop next year unless mortgage rates fall, Morgan Stanley says.

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Home sales have plummeted to their lowest in 13 years as 8% mortgage rates batter the housing market

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Sky-high mortgage rates keep battering the US housing market, with the 30-year fixed mortgage clocking in at 8% this week.

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Elon Musk just warned about credit-card debt, commercial real estate, and foreign conflicts. Here's why the Tesla chief is so worried.

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Elon Musk
Elon Musk.

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The interest rate on the most popular American home loan hits 8% for the first time since 2000

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Mortgage rates have marched steadily higher throughout 2023, breaching 8% on Wednesday.

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The 30-year mortgage rate hits a new 23-year high, pushing closer to 8%

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Americans now need to earn a record $115,000 to afford a typical home - up more than 50% since the pandemic

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Income required for median US home
Income required for median US home

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Homebuyer demand has crashed to its lowest level in almost a year as mortgage applications hover near a 3-decade low

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Rows of suburban homes in Ocala, Florida
Ocala, Florida

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This chart shows how housing affordability has plunged across the US

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Home affordability has plunged in the US
Home affordability has plunged in the US since 2019

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Home foreclosures are at their highest level since the start of the pandemic as the 'financial aftermath' take a toll on buyers

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A home foreclosure sign.
A home foreclosure sign.

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