Show Notes
The U.S. housing market is facing several “spooky” challenges. Rising costs, higher interest rates, and a growing economic uncertainty are presenting a scary reality homeowners and buyers. These factors are shaping affordability and the way people approach buying and owning a home.
- Property taxes have gone up about 30% on average across the U.S. This increase amounts to roughly $1,000 a year for some households.
- Rising interest rates are a primary driver of higher rents. When mortgage rates increase, they price out potential homeowners, which increases rental demand.
- If a recession occurs, delinquency rates and foreclosures could go up, but they are currently very low.
Links:
A 13-stop tour of some of the most haunted US places https://www.cotality.com/insights/articles/13-stop-tour-most-haunted-us-places
Cotality Insights https://www.cotality.com/insights
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