Soaring mortgage rates have combined with high housing prices to push homebuying out of reach for many people, causing major knock-on effects on their lives.
Mortgage rates are at their highest levels in 22 years and house prices are at record highs. Hardworking Americans cannot get on the property ladder, and retirees are struggling to sell in order to downsize. The Biden administration has done little to help alleviate the problem. This Washington Examiner series, Home Economics, will investigate how we got here, the toll on people around the country, and the alternatives people are embracing to survive the market. Part one of this four-part series focuses on the risk the crisis poses to President Joe Biden's reelection effort.
A key initiative for the trade group's 2023 President Kenny Parcell is a 'member activation tour' that will stop or host events in every U.S. state over the next year.