The U.S. housing market is getting battered by rising interest rates and sky-high prices, as housing starts and builder confidence continue to decline.
Jerry Howard, the CEO of the National Association of Home Builders, provides insight into the housing market amid economic challenges.and soaring inflation, and data released this week shows things have gone from bad to worse.
The declines were much steeper than analysts expected: Economists surveyed by Refinitiv forecasted that housing starts would only fall by 1.3%, and that building permits would drop by 2.1%.Perhaps unsurprisingly, home builder confidence is down, too.
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