When rates were low, many homeowners including millennials locked in low rates and now won’t move. This will restrict supply and keep prices high. As Gen Z looks to buy their starter homes, they will face both high rates and high prices. It may be years before the housing market is affordable again. This could create even more intergenerational conflict between cheap-mortgage-paying millennials and high-rent-paying Gen Zers
US News: The US housing market is in a state of abeyance as home sales drop to record lows. The October rate of pending home sales declined by 1.5% compared to