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
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The collapse of the subprime mortgage market has created depression-like conditions in the housing market and driven the economy to the brink of recession, but many of those who call formore federal regulation fail to recognize that earlier and morecomprehensive regulatory efforts did little to deter housing marketproblems and in some cases may have made them worse.