Will mortgage rates go down? 5 reasons you shouldn't wait for rates to drop

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These 4 charts explain why the housing market isn't getting affordable anytime soon

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Homes in a row, Detroit
The US housing market isn't likely to get affordable anytime soon.

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Home builder confidence just dropped for the first time in 2023 as spike in mortgage rates further dents affordability

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Home builders constructing a home.
Builder confidence in the market for newly built single-family homes rose four points to 35 in January, according to the National Association of Homebuilders.

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Looking to buy a starter home? They're more expensive than ever.

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A young couple in front of a home.
Many first-time homebuyers, largely consisting of millennials and Gen Zers, are locked out of homeownership.

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Americans can't get a break thanks to surging mortgages, food and fuel costs. Here are all the ways consumers are getting screwed.

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Shoppers

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The worst of the housing affordability crisis may be over, but that doesn't mean it'll get easier to buy a home soon

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Identical homes

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Home prices this summer have hit a new all-time high in a majority of the US

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Home prices

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Mortgage payments are 19% more expensive than last year as home prices continue surging, Redfin says

Tech Insider : Economy
Housing market home for sale
People walk by a sold sign in front of a house along the Erie Canal in Pittsford, New York, on Monday, Sept. 6, 2021.

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You need to make at least $64,500 a year to afford your first home, says Redfin

Tech Insider : Economy
A Floridian home for sale.
Homes are getting less affordable for first-time buyers, Redfin said.

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Apartment rents in the US declined in July for the first time since the pandemic began

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A street view of the exterior of a large apartment building with 13 floors and tall trees outside.
The exterior of their apartment block.

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